1. Lang Ltd. acquired 100% of Linford Ltd. through a direct exchange. In the exchange, Lang issued $7,500,000 in shares to Linford. What journal entry must Lang record to reflect the exchange 2. Amandeep Ltd bought equipment for $240,000 on January 1, 2018. Amandeep estimated the useful life to be 3 years with no salvage value, and the straight-line method of depreciation will be used. On January 1, 2019, Amandeep decides that the business will use the equipment for a total of 5 years. What is the revised depreciation expense for 2019 3. Lucky bought a machine for $39,000, which she expects to have a useful life of four years and a residual value of $4,000 at the end of that time. If depreciation is to be provided on the straight-line basis, the net book value after two years will be