Problem 9-3A Your answer is partially correct. Try again. Pharoah Company had the following assets on January 1, 2017 Useful Life Item Cost Purchase Date (in years) Salvage Value Machinery $76,680 Jan. 1, 2007 Forklift Truck 10 10 s 0 32,400 Jan. 1, 2014 36,072 an. 1, 2012 3,240 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forkdift was sold on June 30 for $12,960. The truck was discarded on December 31