Morrison Manufacturing purchased the following two pleces of equipment during the first year of business. Their year end is December 31 and company policy is to calculate depreciation for partial periods to the nearest month. All transactions were for cash. Equipment A Was purchased on January 2, 2024, for $48,000. Related expenditures included: shipping costs $150, insurance during shipping $80, a one-year insurance policy $1,750, installation and testing costs $1,200, and $240 in oil and lubricants to be used with the machine during its first year of operations. Morrison estimates that the useful life of the equipment is five years with a $5,000 residual value remaining at the end of that time period. Assume that the straight-line method of depreciation was used. Equipment B Was purchased on June 4, 2024. The recorded cost of this equipment was $180,000. Morrison estimates that the useful life of the equipment is four years with a $10,000 residual value remaining at the end of that time period