Part of a 709 points Required information E8-4 (Algo) Determining Financial Statement Effects of an Asset Acquisition and Depreciation (Straight- Line Depreciation) LO8-2, 8-3 The following information applies to the questions displayed below) During Yeart Ashkar Company ordered a machine on January at an invoice price of $26.000. On the date of delivery January 2, the company paid $8.000 on the machine with the balance on Creditat percent werest due in six months On January 3. it paid $700 for freight on the machine. On January 5, Ashka paid installation costs relating to the machine amounting to $2,600. On July 1, the company paid the balance due on the machine plus the Interest on December 31 de end of the accounting period), Ashkar recorded depreciation on the machine using the straight line method with an estimated useful life of 10 years and an estimated residual value of $4.800 Book References E8-4 Part 5 5. What would be the net book value of the machine at the end of Year 22 (Amounts to be deducted should be indicated by a minus sign.) Net book value of machine at end of Year 2 Net book value at end of year 2 5 0