Liberty Ltd owns a chemical plant. The plant was completed on January 1, 2029, at a construction cost of 20 million, and it is expected to have a useful life of 20 years. The asset is depreciation on a straight-line basis. Management estimates Liberty to dismantle the plant and clean up the site at the end of its useful life. The estimated cost of this dismantling and clean-up in 20 years is $ 5 million. Liberty uses an interest rate of 7% to discount the obligation which is appropriate for this type of obligation. 

1. What is the amount of the asset recorded at initial measurement? 

2. What is the depreciation expense at Dec 31, 2029? 

3. What is interest expense at Dec 31, 2029?