On June 30, 2018 Someday Lanes installed automatic sprinkler systems. The electrical work for the installation was $24,000. The invoice price of the sprinkler equipment was $280,000. Additional costs were $5,000 for delivery and $800 for insurance during transportation. During installation a sprinkler line was punctured and was replaced for $200. Equipment is estimated to have 5-year life with 9,800 at end of its life (1)What is the cost of the sprinkler equipment? (2)Prepare require journal entries to record the transactions. (3) Calculate Depreciation for December 31, 2018 using double declining balance method