uestion 30 ot yet swered Gates Co. purchased machinery on January 2, 2009, for $440,000. The straight-line method is used and useful life is estimated to be 10 years, with a $40,000 residual value. At the beginning of 2015 Gates spent $96,000 to overhaul the machinery. After the overhaul, Gates estimated that the useful life would be extended 4 years (14 years total), and the residual value would be $20,000. The depreciation expense for 2015 should be arked out of 00 Flag question Select one: O a. $34,500. o b. $37,000. O c. $40,000. d. $28,250. 31 Datco Company buys a delivery van with a list price of $30,000. The dealer grants a 15% reduction in list price and an additional 2% cash discount on the net price if payment is made in 30 days. Sales taxes amount to $400 and the company paid an extra $300 to have a special horn (1) installed. What should be the recorded cost of the van? of estion Select one: O a. $25,390. O b. $25,690 OC. $24,990. d. $25,645