Pete's Propellers Company showed the following information in its Property, Plant, and Equipment Subledger regarding Machine #$5027.$

Machine #$5027$

Component Date of purchase Depreciation Method$*$ Cost Est. Residual Est.Life

Single metal housing Jan. $12/21$ SL $ $36,000$ $ $6,00015$ yrs

Motor Jan. $12/21$ DDB $28,0002,00010$ yrs

Blade Jan. $12/21$ SL $9,0001,0005$ yrs

$ $73,000$

$*$SL $=$ Straight$-$line; DDB $=$ Double$-$declining$-$balance

On January $7,2023,$ the machine blade cracked and it was replaced with a new one costing $$10,800$ purchased for cash $($the old blade was scrapped$).$ The new blade had an estimated residual value of $$1,000$ and an estimated life of five years and would continue to be depreciated using the straight$-$line method. During $2023,$ it was determined that the useful life on the metal housing should be increased to a total of $18$ years instead of $15$ years and that the residual value should be increased to $$8,800.$

Required:

$1.$ Prepare the entry to record the purchase of the replacement blade.

$2.$ Calculate the total depreciation expense to be recorded on Machine #$5027$ for $2023.$