8. Nautical North Cruises Pty Ltd purchased the boat tady Kimberley on 1 July 2014 for SAUD 1.427,000 with an estimated residual value of SAUD427,000. The estimated useful life is 10 years, and the estimated sailing life is 150,000 nautical miles The whale watching boat 'Lady Kimberley' sailed 7,000 nautical miles in the 2016-2017 FY: 9.000 nautical miles in the 2017-2018 FY: 12,000 nautical miles in the 2018-2019 FY: 6,000 nautical miles in the 2019-2020 FY and 3,000 nautical miles in the 2020-2021 FY The financial year commences on 1 July and concludes on the 30 June in any given year. Please Note: Important Information . The depreciation expense for the whale watching boat 'Lady Kimberley for the financial year 1 July 2020 - 30 June 2021 using the Straight- Line Method was $100,000 per annum (per year). Required:- 1. Calculate the depreciation expense for the whale watching boat "Lady Kimberley for the financial year 1 July 2020 - 30 June 2021 using the Units-of-Production Method. (Adjust to 2 decimal places) 2 marks Due to extreme cyclonic conditions during the financial year 2020 - 20121 in the Indian Ocean, Nautical North Cruisers Pty Ltd experienced a decrease in revenue which impacted net profit due to lower-than-expected whale watching bookings. The accountant for Nautical North Cruisers Pty Ltd suggests to the company to change its depreciation method from straight-line to units-of-production for the financial year 2020-2021.- Required: 2. What would be the financial impact to the financial statements if the company adopts the units of production method for the calculation of depreciation instead of the straight-line method in the 2020 2021 financial year? (Support your response by calculated data)