Pete's Propellers Company showed the following information in its Property. Plant, and Equipment Subledger regarding Machine #5027 Machine #502% Date of purchase Jan. 12/18 Jan. 12/18 Jan 12/18 Depreciation Method SL Component Single netal housing Motor Blade Est Residual Est. Lite $10,000 15 yrs 10 yrs 5 yrs Cost $ 52,000 35,000 13,200 $100,200 000 5L 4,000 1,200 SL = Straight-line: DDB = Double declining balance On January 7, 2020, the machine blade cracked and it was replaced with a new one costing $12,200 purchased for cash (the old blade was scrapped). The new blade had an estimated residual value of $1.500 and an estimated life of five years and would continue to be depreciated using the straight line method. During 2020, it was determined that the useful life on the metal housing should be Increased to a total of 20 years instead of 15 years and that the residual value should be increased to $10,400. Required: 1. Prepare the entry to record the purchase of the replacement blade. View transaction list Journal entry worksheet Record entry Clear entry View general journal 2. Calculate the total depreciation expense to be recorded on Machine #5027 for 2020. Total Depreciation expense