Charlie Ltd acquired a machine on $2$ January $2021$ that needs a major inspection every two years.

The cost price of the machine is N$$2000000,$ and it is estimated that the cost of a major inspection will be N$$200000.$ The useful life of the machine is estimated to be eight years and the company has a $31$ December year end.

Required

$($a$)$ Calculate the depreciation as well as the carrying amount of the machine on $31$ December $2021$ and $31$ December $2022.$

$($b$)$ prepare the notes to financial statements with regards to Property, Plant and Equipment.