(Asso 21.23A Contractors Ltd was formed on 1 January 2019 and the following purchases and sales of machinery were made during the first 3 years of operations. Date 1 January 2019 1 October 2019 30 June 2021 1 July 2021 Asset Price Transaction Machines 1 and 2 purchase Machines 3 and 4 purchase Machine 3. sale 15,200 each 12,640 purchase 20,000 Machine 5 40,000 each Part 5 Adjustments for price. Depreciation was by equal instalments, and it is company policy to charge depreciation for Each machine was estimated to last 10 years and to have a residual value of 5 per cent of its com every month an asset is owned. Required: (a) Calculate ()the total depreciation on Machinery for each of the years 2019, 2020 and 2021; (i) the profit or loss on the sale of Machine 3 in 2021. (b) Contractors Ltd depreciates its vehicles by 30 per cent per annum using the diminishing balance method. What difference would it have made to annual reported profits over the life of a vehicle if it had decided instead to depreciate this asset by 20 per cent straight line lifications Authority)