1-5cott Construction paid $5000 for a plant a5set that had a market value of $16500. At what amount should Scott record this plant asset in accordance with GAAPIFASB? 2--On January 1,2023, Guagliardo Manufacturing Corporation (GMC) purchased a machine for $40700000, Guagliardo's management expects to use the machine for 27000 hours over the next six yeaf yy-juagliardo's management estimates the residual or salvage value of the machine at $47000. The machine was utilized for 3900 hours in 2023 and 5300 hours in 2024. In accordance with GAAP, Guagliardo has appropriately adopted the units-of-production depreciation method. In accordance with GAAP. what amount of depreciation expense should Guagliardo report for the years ended 2023 and 2024 ?