On January 1, 2022. Sheridan Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $47.500. Related expenditures also paid in cash included: sales tax $3,550, shipping costs $200, insurance during shipping $50, installation and testing costs $70, and $100 of oil and lubricants to be used with the machinery during its first year of operations. Sheridan estimates that the useful life of the machine is 5 years with a $5,350 salvage value remaining at the end of that time period. Assume that the straight-line method of depreciation is used. Machine B: The recorded cost of this machine was $180,000. Sheridan estimates that the useful life of the machine is 4 years with a $20,400 salvage value remaining at the end of that time period