QUESTION 6 On September 19, 2020, McCoy Co. purchased machinery for $285,000. Salvage value was estimated to be $15,000. The machinery will be depreciated using the sum-of-the-years'-digits method. If depreciation is computed on the basis of the nearest full month, and if depreciation for the second year equals $58,125, then for how many total years does the asset depreciate? QUESTION 7 On January 1, 2020, Munoz Co purchased machinery, The machinery has an estimated useful life of eight years and an estimated salvage value of $60,000. The depreciation applicable to this machinery was $175,000 for 2022, computed by the sum-of-the-years' digits method. The acquisition cost of the machinery was QUESTIONS On January 2, 2018, Stacy Company acquired equipment to be used in its manufacturing operations. The equipment has an estimated sell We of 10 years and an estimated salvage value of $30,000. The depreciation applicable to this equipment was $150,000 for 2021. computed under the sum of the years' digits method. What was the acquisition cost of the equipment