ng tools for this language. Download 5. A company has gross fixed assets of $15 million on Jan.1 with accumulated depreciation of $3.8 million and continuing annual depreciation expense of $300,000. On Jan.1, the firm buys a new machine costing $600,000. The new machine will be depreciated straight line over an 8 year life with no salvage value. Calculate the net fixed assets at the end of the year