PA9-2 Computing Acquisition Cost and Recording Depreciation under Three LO3] At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression Incorporated. The machines immediately were overhauled, installed, and started operating. Because the machines were different from each other, each was recorded separately in the accounts. Machine A Machine B Machine C Cost of the asset $9,960 $31,340 $21,800 Installation costs 1,580 2,080 780 Renovation costs prior 580 to use 1,580 Repairs after production began 380 680 480 By the end of the first year, each machine had been operating 6,800 hours. Required: 1-a. Compute the cost of each machine. 00:07:49 1-b. Which of the following should be capitalized? (Select all that apply.) ipped Book Renovation costs Installation costs Purchase costs Repair cost Depreciation costs erences 2. Give the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Estimates Machine B Life 4 years 32,800 hours 5 years Residual Value Depreciation Method $1,000 Straight-line 2,000 Units-of-production 1,400 Double-declining balance C