3. Lucky bought a machine for $39,000, which she expects to have a useful life of four years and a residual value of $4,000 at the end of that time. If depreciation is to be provided on the straight-line basis, the net book value after two years will be 4. On January 1, 2011, the Worchester Company paid $8,000 for January, February, March and April's rent in advance. The company recorded this transaction by increasing the balance in the prepaid rent account. What will be the balance in the prepaid rent account as of March 31, 2011