Question 1 (50 marks) Read the case 'Jenny Company' and answer the questions which follow it Jenny Company Jenny Company ('Jenny') is a well-known company with many different businesses in Hong Kong- In order to meet the long-term growth and diversification strategy under the direction of the new Chairman, the company has purchased assets and constructed a new building as its new head office in Hong Kong, as follows: 1 1 January 2018: Truck and equipment were purchased for a lump sum of $250,000 cash. The following information was gathered Description Initial cost on Depreciation to date Appraised seller's books on geller's books value Truck $300,000 $100,000 $120.000 Equipment 250,000 70,000 180,000