ABC Ltd Company purchased machinery for $$20,000$ with an estimated useful life of four years and a salvage of $

$4,000.$ ABC Itd uses the straight $-$ line depreciation method. At a beginning of the third year. ABC Itd reduces its salvage

value estimate to $$1600.$ Determine the depreciation expense for each year. $(5$ Marks$)$ At the beginning of the current

year ABC Itd $.$ entered into business acquisition. As a result, ABC reported the following intangible assets: Patent $

$4,80,000$ Franchise agreement $$3,50,000$ Copyright $$1,50,000$ Goodwill $$5,50,000$ Total $$1,530,000$ The patent

expires in $12$ years. The franchise agreement expires in $7$ years but can be renewed indefinitely at a minimal cost. The

copyright is expected to be sold at the end of $20$ years for $$30000.$ Use the straight $-$ line amortization method to

calculate the total carrying value of ABC $\text{'}$s intangible assets at the end of the year. $(10$ Marks$)$