Part 2: (write vour answer with detailed calculations in the answer section) 16. Quigley Co. bought a machine on January 1, 2022, for $2,800,000. It had a $240,000 estimated residual value and a ten-year life. An expense account was debited on the purchase date. Quigley uses straight-line depreciation. This was discovered in 2024. Instruetions Prepare the entry or entries related to the machine for 2024 . Ignore taxes