please answer for transaction 1 and transaction 2

Sheffield Corporation manufactures ballet shoes and is in a period of sustained growth. In an effort to expand its production capacity to meet the increased demand for its products, the company recently made several acquisitions of plant and equipment. Tanya Mullinger, newly hired with the title Capital Asset Accountant, requested that Walter Kaster, Sheffield's controller, review the following transactions: Transaction 1 On June 1, 2020, Sheffield purchased equipment from Venghaus Corporation. Sheffield issued a $20,500,4-year, non-interest bearing note to Venghaus for the new equipment. Sheffield will pay off the note in 4 equal instalments due at the end of each of the next 4 years. At the transaction date, the prevailing market interest rate for obligations of this nature was 10% Freight costs of $460 and installation costs of $340 were incurred in completing this transaction. The new equipment qualifies for a $1,700 government grant Transaction 3 On March 1, 2021, Sheffield traded in four units of specialized equipment and paid an additional $24,610 cash for a technologically up- to-date machine that should do the same job as the other machines, but much more efficiently and profitably. The equipment that was traded in had a combined carrying amount of $34,540, as Sheffield had recorded $44,930 of accumulated depreciation against these assets. Sheffield's controller and the sales manager of the supplier company agreed that the new equipment had a fair value of $63,640 (61) For each of the three transactions described above, determine the value at which Shetheld Corporation should record the acquired assets. For any measurement involving present value concepts, provide your calculations using any of the following tables, Excel functions, or a financial calculator. (Do not round intermediate calculations. Round factor values to 5 decimal places, es. 1.25124 and final answers to decimal places, c.8.5,275. The tables in this problem are to be used as a reference for this problem.) Transaction 1: Equipment $ Transaction 3: Machine $