Pete's Propellers Company showed the following information in its Property, Plant, and Equipment subledger regarding Machire #5027. "SL = Straight-line; DDB = Double-declining-balance On January 7,2020 , the machine blade cracked and it was replaced with a new one costing $10,400 purchased for cash (the old blac 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 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 $8,600. Required: 1. Prepare the entry to record the purchase of the replacement blade. On January 7,2020 , the machine blade cracked and it was replaced with a new one costing $10,400 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 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 $8,600. 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 2020