On July 1, 2021, Browning Company purchased equipment for use in its manufacturing process. The equipment cost $865,000, has a useful life of 5 years, and has a salvage value of $90,000. The company uses double declining balance depreciation for this type of equipment. On January 1, 2023, $120,000 was spent to repair the equipment and add a new feature, which increased operating efficiency. $20,000 was ordinary repairs and maintenance and the remainder represented the cost of the new feature. This work did not extend the useful life of the equipment, and salvage value was not affected. Prepare the following journal entries 1. Depreciation for 2021 2. Depreciation for 2022 3. The event that took place on 1-1-2023 4. Depreciation for 2023 5. What is the carrying value of the asset at the end of 2023 after all adjustments have been made?