What would the book value be at the end of year 5 for a piece of equipment using the straight-line method when cost is \$16 residual value is $ 2,000, and the expected life is 10 years?

Nittany Company purchased a machine at an invoice cost of $25,000 subject to a discount of 3%. The discount was taken. Additional costs were installation of $ 1000, freight of $500 and insurance on the machine after it was placed in operation of $500. The total cost to be captialized to the machinery account is?