During the current year, Arkells Inc. made the following expenditures relating to plant machinery. Renovated five...

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During the current year, Arkells Inc. made the following expenditures relating to plant machinery. Renovated five machines for $110,000 to improve efficiency in production of their remaining useful life of five years Low-cost repairs throughout the year totaled $63,000 Replaced a broken gear on a machine for $11,000 A. What amount should be expensed during the period? B. What amount should be capitalized during the period? During the current year, Arkells Inc. made the following expenditures relating to plant machinery. Renovated five machines for $110,000 to improve efficiency in production of their remaining useful life of five years Low-cost repairs throughout the year totaled $63,000 Replaced a broken gear on a machine for $11,000 A. What amount should be expensed during the period? B. What amount should be capitalized during the period?