Lion Ltd purchased equipment on $1$ January $2023$ at a cost of $$360000.$ It had an estimated useful life of $10$ years and an estimated residual value of $$40000.$ Each year $$2000$ is spent on the maintenance of the equipment. On $1$ July $2025,$ Lion paid $$17600$ cash for a major overhaul of the equipment, after which it had an expected useful life of $5$ more years and nil residual value. The entity$$s reporting

period ends on $30$ June and it uses straight$-$line depreciation.

Required

$($a$)$ Calculate the depreciation expense for $2023$ and $2024.$

$($b$)$ Prepare the journal entry for the $$17600$ paid for the overhaul of the equipment, assuming:

i$)$ No GST

ii$)$ GST of $10\%$

$($c$)$ Calculate the depreciation expense for $2026$ based on assumption $($i$)$ in $($b$)$ above.