Ocean Fishers Ltd had a 22-foot fishing boat with an inboard motor that was purchased on April 9, 2012, for $104,000. The PPE subledger shows the following information regarding the boat: On June 27, 2020, $74,000 cash was paid for a new motor to replace the old one, which was scrapped. The new motor had an estimated useful life of 12 years and a residual value of $2,000. Early in 2020 , it was determined that the useful life of the boat's fibreglass body should be adjusted to a total of 20 years with no change in the residual value. Required: 1. Record the appropriate entries regarding the a. Purchase of the replacement motor on June 27, 2020. b. Depreciation taken on the fishing boat (body plus motor) on December 31, 2020, the company's year-end. (Do not round intermediate calculations and round final answers to whole dollars.) 2. Calculate total depreciation taken on the fishing boat (body plus motor) for the company's year ended December 31,2020 (Round the final answers to the nearest whole dollar.)