Useful Life Item Cost Purchase Date (in years) Salvage Value 10 Machinery $76,680 Jan 1, 2007 Forklift 32,400 Jan. 1, 2014 36,072 s 0 Truck Jan. 1, 2012 3,240 During 2017, each of the assets was removed from service. The machinery was retired on January 1. The forkift was sold on June 30 for $12,960. The truck was discarded on December 31