A company incurs the following expenditures related to currently owned
A company incurs the following expenditures related to currently owned fixed assets:
• Annual pressure washing of building, $5,000
• New engine in delivery truck, $4,500
• Repair of water damage caused by leaking roof, $3,500
• New tires on tractor, $2,000
• Addition of 1,000 square feet of office space, $22,000
• Modifications to machinery to improve efficiency, $7,200
Required
Identify each expenditure as a capital or revenue expenditure.
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