Bullman Ltd a company located in Perak, Malaysia, is involved in the building of commercial property and has asked you, a trainee financial accountant, for advice on how to account for Property, Plant and Equipment as shown below: Purchased equipment on 1 July 2018 and had the following costs: (i) Bullman Ltd. is registered for vat and can recover vat on purchases. (ii) The equipment has a useful life of ten years and a residual value of RM 2,000. (iii) Bullman Ltd.'s depreciation policy is to charge a full year's depreciation in the year of purchase and none in the year of sale. REQUIREMENT: The financial controller of Bullman Ltd. has asked you to prepare a report which addresses the following: (a) Calculate the carrying value of the equipment as at 31 December 2018. (4 Marks) (b) In accordance with MFRS 116-Property, Plant \& Equipment, describe the criteria for the recognition of property, plant and equipment in the financial statements. (3 marks) (c) Explain the accounting treatment allowed for the measurement of property, plant and equipment: (i) At recognition; (ii) After recognition