7.Andrei Company was incorporated on January 1, 2017. In preparing the financial statements for the year ended December 31, 2020, the entity used the following original cost and useful life for the property, plant and equipment: Original Cost Useful Life Building 20,000,000 15 years Machinery 15,000,000 10 years Furniture 5,500,000 7 years On January 1, 2021, the entity determined the property, plant and equipment had a useful life of 10 years for the building, 7 years for the machinery and 5 years for the furniture, from the date of acquisition. The entity used the straight line method of depreciation with no residual value. What is the carrying amount of Machinery as of December 31, 2021? 9. Jean Company and Kristine Company are fuel distributors. To facilitate the delivery of oil to their customers, Jean and Kristine exchanged ownership of 1,200 barrels of oil without physically moving the oil. Jean paid Kristine 500,000 to compensate for a difference in the grade of oil. It is expected that the cash flows from the assets will be significantly different. On the date of the exchange, carrying amount and market value of the oil were: Kristine Company Jean Company Carrying amount 1,000,000 1,400,000 Market Value 1,200,000 1,500,000 What amount should Jean Company record as cost of the oil inventory received in exchange