Glory Company, a mining company bought a truck for $3,600,000 on 27 February 2020. The truck had a useful life of 10 years with a residual value of $600,000, or had an estimated operation output of 60,000 hours. The company adjusts its account annually with the year-end date at 31 December. Required: (a) Compute the depreciation expenses on the truck in 2020 and 2021 respectively by using the following methods: (i) Straight-line (using half year convention); (2 marks) (ii) 150%-declining-balance (calculated to the nearest whole month); and (2 marks) (iii) Units-of-output method (hours of operations: 4,000 in 2020; 6,500 in 2021) (2 marks) (b) Assume Glory Company adopts straight-line method as shown in (a)(i) above for the truck bought on 27 February 2020 and disposed it on 22 January 2022 for $2,500,000 cash. Prepare the following journal entries: (i) Update the depreciation for the year 2022 before the disposal (2 marks) (ii) Dispose the truck at 22 January 2022 (4 marks)