Question 3 (8 marks) Do both Part A & Part B Part A The following are expenditures relating to land purchased by EB Enterprises, Purchase price of land Cost of fencing and lighting Cost of clearing and drainage Property taxes to be borne by buyer Brokerage costs borne by seller of the land $1,500,000 $200,000 $350,000 $10,000 $7,500 Required: Calculate the costs of land improvement and explain why you included each item in your calculation (1 mark) 2 Explain why you excluded the other cost items. (1 mark) Explain why you excluded the other cost items. (1 mark Part B On 1 January 2020 Albany Ltd paid $40,000 for a delivery van purchase. The delivery van has an estimated useful life of 3 years (150,000 km) and a residual value of $10,000. The year end is 30 June 2020. Required: Using the straight-line method, for the years ending 30 June 2020 and 30 June 2021 calculate the: a. depreciation expense and carrying amount for the delivery van, [3 marks) 2 Assuming the units of production method for the years ending 30une 2020 and 30 June 2021 calculate the a depreciation expense for the delivery van and carrying amount for the delivery van. Assume that the km travelled are as follows: year ending 30 June 2020, 25.000 km, and year ending 10 June 2021.70,000 km