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5 Ekow Totopiropi purchased three 2020 model vessels at a cost $900,000. He paid addition amounts of $90,000 for the shipment of vessels to Ghana.

5 Ekow Totopiropi purchased three 2020 model vessels at a cost $900,000. He paid addition amounts of $90,000 for the shipment of vessels to Ghana. On arrival. Ekow settled statutory fees and charges amounting to GHS600,000 for all three vessels. Installation cost for each vessel was GHS100,000. L Find the cost of each vessel? Assuming each vessel may be used for about 10 years only from January to December each year, prepare a depreciation schedule for the first five years. If the vessel to be sold for $500,000, will you recommend the sale or not and why? ($1-GHS6.00)

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