On January 2, Apple Company purchases factory machine at a cash price of $60,000. Related expenditures are sales taxes $2,000, Insurance after the installation is $200, Installation and testing $1,000, Salvage value is $1,000. Useful life of the machine is 5 years. 1-Compute the component costs of the machine. 2-Compute the total costs of the machine 3-Using straight line method, how much will be the annual depreciation cost? 4-What is the book value of the machine at the end of the 1st and 3rd years?