XYZ company bought a car with a list price of $30,000. They had to pay $1,500 sales tax in addition to the $30,000 cost. What would happen? The care would be valued on the balance sheet at $28,500 XYZ company would have tax expense of $1,500. The car would be valued on the balan sheet on the day of acquisition at $31,500. The car would be valued on the balance sheet at $30,000. Question 3 A capital expenditure would be: added to the cost of the asset . an expense on the income statement ignored subtracted from the cost of the asset Question 4 1 pts XYZ bought an asset that cost $200,000 at the beginning of the year. It has a salvage value of $30,000. The useful life of the asset is 10 years. If the company uses straight-line depreciation, what would depreciation be for the first year of the asset's life? $17.000$200.000$30,000$20.000