True False Question 5 6.67 pts An asset's historical cost less its accumulated depreciation should equal its fair market value. True False Question 6 P.66 pts True O False Question 7 6.66 pts Historical cost of an asset includes costs to acquire an asset but not the costs to make the asset ready for its intended use. True False Question 8 6.67 pts UUSE Question 11 6.67 pts A factory machine was purchased for $875.000 on June 1. 2018. It was estimated that it would have a $75,000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 80.000 hours in the 5 years. The company ran the machine for 5,000 actual hours in 2018. If the company uses the units-of-activity method of depreciation, the amount of depreciation expense for 2018 would be $50,000 $102.083 $160.000 $93,333