\begin{tabular}{l|c|cc} & Machine A & Machine B & Machine C \\ \cline { 2 - 4 } Cost of the asset & $9,000 & $38,200 & $22,000 \\ Installation costs & $800 & $2,100 & $1,200 \\ Renovation costs prior to use & $600 & $1,700 & $2,200 \\ Repairs after production began & $500 & $600 & $700 \\ Number of hours worked by year-end & 8,000 & 8,000 & 8,000 \end{tabular} Additional assumptions: Estimated Life Estimated Residual Value Depreciation Method Straight-line Units-of-production Double-declining-balance Calculate the cost of each machine: Machine A Machine B Machine C Cost of the asset 8 Installation costs Renovation costs prior to use Total Cost Calculate the total amount of depreciation for the year and prepare the journal entry to record depreciation