Onslow co. purchases a used machine for $240,000 cash on january 2 and readies it for use the next day at an $6,000 cost. on january 3, it is installed on a required operating platform costing $1,200, and it is further readied for operations. the company predicts the machine will be used for six years and have a $28,800 salvage value. depreciation is to be charged on a straight-line basis. on december 31, at the end of its fifth year in operations, it is disposed of. prepare journal entries to record the machine's purchase and the costs to ready and install it. cash is paid for all costs incurred.
1. prepare journal entries to record depreciation of the machine at december 31.(a) its first year in operations.
b) the year of its disposal.2. prepare journal entries to record the machine's disposal under each of the following separate assumptions: (a) it is sold for $21,500 cash.
(b) it is sold for $86,000 cash.
(c) it is destroyed in a fire and the insurance company pays $32,000 cash to settle the loss claim.

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Afirm's before-tax cost of debt, rd, is the interest rate that the firm must pay on debt. because interest is tax deductible, the relevant cost of debt used to calculate a firm's wacc is the cost of debt, rd (1 – t). the cost of debt is used in calculating the wacc because we are interested in maximizing the value of the firm's stock, and the stock price depends on cash flows. it is important to emphasize that the cost of debt is the interest rate on debt, not debt because our primary concern with the cost of capital is its use in capital budgeting decisions. the rate at which the firm has borrowed in the past is because we need to know the cost of capital. for these reasons, the on outstanding debt (which reflects current market conditions) is a better measure of the cost of debt than the . the on the company's -term debt is generally used to calculate the cost of debt because more often than not, the capital is being raised to fund -term projects. quantitative problem: 5 years ago, barton industries issued 25-year noncallable, semiannual bonds with a $1,600 face value and a 8% coupon, semiannual payment ($64 payment every 6 months). the bonds currently sell for $845.87. if the firm's marginal tax rate is 40%, what is the firm's after-tax cost of debt? round your answer to 2 decimal places. do not round intermediate calcu