Norwel SA manufactures miniature circuit boards used in smartphones. On June 5, 2019, Norwel purchased a circuit board stamping machine at a retail price of 24,000. Norwel paid 5% sales tax on this purchase and hired a contractor to build a specially wired platform for the machine for 1,800, to meet safety requirements. Norwel estimates the machine will have a 5-year useful life, with a residual value of 2,000 at the end of 5 years. Norwel uses straight-line depreciation and employs the "half-year" convention in accounting for partial-year depreciation. Norwel's fiscal year ends on December 31. Instructions a. At what amount should Norwel record the acquisition cost of the machine? b. How much depreciation expense should Norwel record in 2019 and in 2020? c. At what amount will the machine be reported in Norwel's statement of financial position at December 31, 2020? d. During 2021, Norwel's circuit board business is experiencing significant competition from companies with more advanced low-heat circuit boards. As a result, at June 30, 2021, Norwel conducts an impairment evaluation of the stamping machine purchased in 2019. Norwel determines that value-in-use for the machine is estimated to be 15,200 and the fair value of the machine less costs to sell, based on prices in the re-sale market, to be 13,400. Prepare the journal entry to record an impairment, if any, on the stamping machine