Shen Athletics purchased factory equipment with an invoice price of $ 92,000. Other costs incurred were freight costs, $ 2,500; installation of wiring and foundation, $ 2,200; material and labour costs in testing equipment, $ 700; oil lubricants and supplies to be used with equipment, $ 500; one-year fire insurance policy covering equipment, $ 1,400. The equipment is estimated to have an $8,000 residual value at the end of its 5- year useful service life. Required: a) Calculate the acquisition cost of the equipment. Identify each element of cost clearly b) If the double diminishing-balance method of depreciation was used, the constant percentage applied to a diminishing carrying amount would be