On January 1,2024, Pacific Manufacturing purchased a machine costing $41,700. Pacific Manufacturing also paid $1,850 for transportation and installation. The expected useful life of the machine is 4 years and the residual value is $5,850. If Pacific Manufacturing uses the straight-line depreciation method, which of the following statements is incorrect? The December 31,2024 book value is $34,125 The December 31,2025 book value is $18.850 The December 31,2026 accumulated depreciation balance is $28,275 The annual depreciation expense is $9.425