on april 1 2024 apple ltd placed an order for a machine from a company in the usa. the machinery was delivered on 30 april 2024. the list price is $719000 and apple ltd successfully negotiated a trade discount of 4%. the invoice was paid on 1 june. import duties amounted to 2% of the purchase price. Details Delivery and transport from Melbourne port to factory 5000 Installation and commissioning cost 10000 Administrative costs incurred in processing and inspection 50000 Start up and pre production costs 7999 Employees training cost 2999 Exchange translation loss of payable 1000 General administrative costs 4500 Apple ltd depreciates machinery using a straight line method over 8 years based on historical cost with no residual value. After the 8th year the machinery must ne dismantled at the cost of $60000. As of 30 june 2025 management decided to adopt the fair valuation model, and an independent professional valuer valued the machinery of $699000 and a 7 year economic life. Th machinery was revalued in June 2026 based on the revised estimates its new fair value is $ 625000 and its remainingeconomic life hs not changed. On September 2026 apple ltd sold the machine for 615000. Required: a) Calculate the cost of the machinery. Show all working calculations. Explain whether or not each item should be capitalized with reference to AASB. b) Show all the journal entries in relation to the machinery purchase, depreciation, revaluation and disposal for the ye