Information [The following information applies to the questions displayed below.] At the beginning of the year, Plummer's Sports Center bought three used fitness machines from Brunswick Corporation. The machines immediately were overhauled, installed, and started operating. The machines were different; therefore, each had to be recorded separately in the accounts. Machine A Machine B Machine C Invoice price paid for asset $ 20,900 $ 29,800 $ 11,100 Installation costs 800 2,600 700 Renovation costs prior to use 3,600 2,500 2,700 By the end of the first year, each machine had been operating 4,900 hours. 2. Prepare the entry to record depreciation expense at the end of Year 1, assuming the following. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) ESTIMATES Machine Life Residual Value Depreciation Method A 7 years $2,900 Straight-line B 63,000 hours 3,400 Units-of-production C 5 years 3,300 Double-declining-balance