On January 2, 2023, Crane Inc, replaced its boiler with a more efficient one. The following information was available on that date: The old boiler was sold for $3000. At what amount should Crane capitalize the cost of the new boiler? $53200 $49500 $53800 $50200 On January 1,2018, Blossom Corp. purchased a machine for $912000. The machine was being depreciated using the straight-line method over an estimated useful life of eight years, with a $70000 residual value. At the beginning of 2023 , the company determined that the machine's useful life was underestimated, it should have been 10 years; however, this would result in $0 residual value. The depreciation expense for 2023 should be $77150. $68400. $91150. $91200