Problem 6) Foster Inc. purchased and put into service equipment for $300,000 on March 1, 2020. Foster also paid fees to install the equipment of $10,000. Insurance for using the machine was going to be $1,000 each year. The equipment had a 10-year life and salvage of $20,000. Foster records depreciation based on the month put in service. (a) What was the amount of depreciation expense was charged in 2021 if Foster uses Double Declining Balance (please note, I said 2021, not 2020)? (b) Ignore the information in part (a). Foster used Straight-line Depreciation. On Jan 1, 2022, Foster's management determined that the equipment should have a new original life of 8 years and a salvage of $50,000. Prepare the journal entry for recording depreciation expense for 2022. (c) Ignore the information in (a) and (b). Assume that Foster is testing the equipment for an impairment on 1/1/2025. The Book value of the equipment is $160,000; the equipment is expected to have future cash flows (non-discounted) over the next 4 years of $150,000, and a fair (or present) value of $130,000. Show the work (I need to see something for points) for impairment and the journal entry for the impairment (if any). Work? Journal Entry(s) (if any)