(please answer question a, b, and c thank you!)

Assignment 4-Part 2 (10 marks) On January 1, 2021, Binto company acquiress an asset for $650,000,000 cash. The company had to spend an additional 50,000,000 cash to prepare the asset for the management's intended use. That asset's retirement costs at the end of its useful life of 32 years are estimated to $140,000,000 Round to the nearest dollar. Required a) Prepare the journal entry to record the acquisition of the asset on January 1,2021 , assuming cash is used to pay for the asset's related costs (other than the ARO). b) Prepare the required adjusting entries on December 31, 2021 and December 31, 2022. c) Assume that on January 1,2030 , the asset's retirement costs are re-estimated to $180,000,000 while the asset total useful life is shortened to 25 years. The discount rate to be used is 5.5.\% Prepare the journal entry to record this change on January 1, 2030 and calculate the depreciation expense to be recorded on December 31, 2030 (no journal entry required for the depreciation). Enter your answer here