Revisit Choose the best option Question # 38 $35,000 O $40,000 During 2006, Fox Company made the following expenditures relating to plant machinery and equipment: Renovation of a group of machines at a cost of $50,000 to secure greater efficiency in production over their remaining 5-year useful lives. The project was completed on December 31, 2006. Continuing, frequent, and low cost repairs at a cost of $35,000. A broken gear on a machine was replaced at a cost of $5,000. What total amount should be charged to repairs and maintenance in 2006? $85,000 0 $90,000