(12 points) On December 31st, 2020, Grassley Corporation finances the acquisition of a production facility by issuing a note. The terms of the note stipulate that eight (8) $8,600,000 cash payments are to be made by Grassley Corporation on December 31st of each year, beginning in 2021. Each cash payment represents both interest and amortization of principal. Grassley Corporation estimates the facility to have an economically useful life of forty (4 years. Grassley Corporation anticipates that the facility will have a residual value of $880,000. Assume that Grassley Corporation incurs no additional capitalizable costs subsequent to the acquisition of the facility. Assume that interest is compounded annually, and that Grassley Corporation's incremental borrowing rate is 12% per year. Further assume that Grassley Corporation prepares all adjusting entries at year-end. a. (2 points) Assume that Grassley Corporation uses the double-declining balance method to calculate depreciation. Please prepare the journal entry(ies) recorded by Grassley Corporation on December 31st, 2020. Write NONE if no journal entries are recorded. b. (2 points) Continue to assume that Grassley Corporation uses the double-declining balance method to calculate depreciation. Please indicate the depreciation expense associated with the production facility reported on Grassley Corporation's income statement for the year ended December 31st, 2022. c. (2 points) Continue to assume that Grassley Corporation uses the double-declining balance method to calculate depreciation. Please indicate the carrying value (i.e., net book value) of the production facility reported on Grassley Corporation's balance sheet for the year ended December 31st, 2022. d. (6 points) Now, assume that Grassley Corporation had used the straight-line method to record depreciation expense associated with the facility from its acquisition date through December 31, 2022. On June 30, 2023, the state government offers to buy the production facility from Grassley Corporation in exchange for $44,000,000 in cash. Grassley Corporation accepts the bid, and the $44 million cash payment is remitted to Grassley Corporation on June 30, 2023; additionally, the facility is removed from Grassley Corporation's operations on the same date. Assuming that Grassley Corporation incurs no costs associated with the facility's disposition, please prepare all journal entry(ies) recorded by Grassley Corporation on June 30, 2023. Write NONE if no journal entries are recorded