onslow company purchased a used machine for $240,000 cash on january 2. on january 3, onslow paid $10,000 to wire electricity to the machine. onslow paid an additional $2,000 on january 4 to secure the machine for operation. the machine will be used for six years and have a $28,800 salvage value. straight-line depreciation is used. on december 31, at the end of its fifth year in operations, it is disposed of.