What is the cost of equipment, based upon the following data? Equipment purchase price $178,000 Installation Services 30,000 Payment to employees for testing the equipment 20,000 Repair of equipment damaged in shipping 22,000 Do not use comma separators in your answer. Answer: 250000 A machine costing $18,000 with a 3-year life and $2,500 residual value was purchased January 2. Compute depreciation for the first year, using the double-declining-balance method. Do not use comma separators in your answer. Answer: 11880 A machine costing $18,000 with a 3-year life and $2,500 residual value was purchased January 2. Compute depreciation for the second year, using the double-declining-balance method. Do not use comma separators in your answer. Answer: 7840