On January $1,2022,$ Concord Company purchased the following two machines for use in its production process.

Machine A: The cash price of this machine was $$37,500.$ Related expenditures also paid in cash included: sales tax $$3,600,$ shipping costs $$100,$ insurance during shipping $$50,$ installation and testing costs $$120,$ and $$150$ of oil and lubricants to be used with the machinery during its first year of operations. Concord estimates that the useful life of the machine is $5$ years with a $$5,950$ salvage value remaining at the end of that time period. Assume that the straight$-$line method of depreciation is used.

Machine B: The recorded cost of this machine was $$180,000.$ Concord estimates that the useful life of the machine is $4$ years with a $$15,500$ salvage value remaining at the end of that time period.