The Lexus Company purchased a new machine on January 1, 2014. The supplier. Infinity, was paid $440,000 in cash. In addition, transportation and installation were $45,000 (paid in cash), legal costs associated with the asset were $15,000 (paid in cash), and on the same date the Lexus Company paid a cash dividend to their shareholders in the amount of $100,000. The machine has an estimated life of five years and an estimated salvage value of $50,000. It is company policy to use straightline depreciation for all of its machines. Depreciation expenses are calculated based on actual transaction dates. Required (answer a to d): a. What is the total acquisition cost of the new machine in the assets? Record the transaction(s) related to the purchase of the asset using journal entries or T. accounts. b. Record the first year depreciation expense using journal entries or T-accounts. c. Assume the machine was sold on December 314, 2015, to Acura, for $400,000, cash. Record this transaction. You can use journal entries or T-accounts. d. If the Lexus Company used an accelerated method, which records higher depreciation expenses early on and lower depreciation expenses towards the end of the estimated useful life as its depreciation method, the disposal would result in a gain of $110,000 (consider this amount as given; no need to verify it). Given this amount is higher than the amount you calculated in part c above, can you conclude the total expenses and gain on the sale of the Lexus Company on December 31,2015 would have been higher if it used an accelerated depreciation method instead? Explain (no more than two sentences)