Asset Capitalization Refer to Now You Try $5\mathrm{.}11,$ Scenario $1.$ Prepare a brief accounting research memo documenting your position on whether a hole puncher should be capitalized as an asset. Consider not only the definition of asset included in the chapter, but also additional excerpts from CON$8,Ch\mathrm{.}4($Elements$)$ regarding the definition and characteristics of assets. Also discuss how you considered any other concepts from the Conceptual Framework that you consider relevant to addressing this issue.