Please explain how to solve the following:

1) On January2, 2019, Kornis Corporation acquired equipment for $1,100,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $30,000. What is the balance in Accumulated Depreciation on December31, 2019, if Kornis Corporation uses the doubledecliningbalance method ofdepreciation?

2) On January1, 2018, bonds with a face value of $ 114,000 were sold. The bonds mature on January1, 2028. The face interest rate is 6%. The bonds pay interest semiannually on July 1 and January 1. The market rate of interest is 10%. What is the market price of the bonds on January1, 2018? The present value of$1 for 20 periods at 5% is 0.377. The present value of an ordinary annuity of$1 for 20 periods at 5% is 12.462. The present value of$1 for 20 periods at 3% is 0.554. The present value of an ordinary annuity of$1 for 20 periods at 3% is 14.878. (Round your final answer to the nearestdollar.)