Question 13 (6 points) On January 2, 2020, Orange Partners paid $650,000 for a machine with a useful life of 5 years and a residual value of $60,000. On January 2, 2022, the company determined that the machine would have a remaining useful life of 2 years with a residual value of $50,000. The company uses the straight-line method to the nearest whole month to calculate depreciation. The company has a December 31 year-end. REQUIRED: a. Calculate the machine's carrying value at December 31, 2021. (3 marks) b. Prepare the journal entry to record depreciation at December 31, 2022. (3 marks) Paragraph B I U A Part a v www