MM, Inc. purchased a new piece of equipment on January 1, 2006, for $400,000. In addition, they paid $10,000 for delivery and $90,000 for installation costs. MM estimates that the equipment will have a useful life of 4 years and that the company will be able to sell it at the end of the fourth year for $100,000. NOTE: Please consider each transaction INDEPENDENTLY. That is, answer each question without using information obtained/calculated for the other