1. On 7-1-18, The Foster Company bought a new piece of equipment. The Unit itself cost $100,000. The Sales Tax was $2,000, Freight has $1,500 and Platform and Installation cost are 6,500. The Machine was setup and placed into service on the day it was purchased. The Company also purchased spare parts for routine maintenance for $5,000 on the date of purchase. The equipment is expected to have an estimated useful life of 5 Years and a Salvage value of $10,000. Please compete the following:
   1. Calculate the amount that should be capitalized as an Asset for the Equipment Purchase
   2. Calculate the Depreciation schedule based on the Straight-line Method
   3. Assuming the Company decides to use the Straight-line Method, please book the depreciation adjusting entry as of 12-31-18