Case #2 On April 1st, 2016, Khalifa Inc has purchased an equipment for $ 895,00. This is expected to have 5 useful life years. The salvage value is $ 95,000. Khalifa Inc considers depreciation expense for the nearest whole month. Required: a) Calculate the amount of depreciation on 31st December 2016 and 31st December 2017 using Straight Line Method of Depreciation b) Calculate the depreciation expenses for 31st December 2016, 31st December 2017, 31st December 2018, 31st December 2019 and 31st December 2020 using a declining balance method.' Case #3 Amna Inc has purchased a Machine from Japan and incurred the expenses such as purchase Cost of Machine $ 625,000, Shipping Cost $ 12,000, Tax on purchase of machine cost @ 20%, Insurance on Transit $5,000, Unloading Charges $1.000, Carriage in words $5,000, Installation Chargers $2,500, Oil and Fuel $ 500, Training and Testing $3,000 and Maintenance Expenses $1500 during the acquisition of the Machine for the company Required: Calculate the Historical (Total) Cost of the Machine