TX Incorporated purchased a new piece of equipment for $192,200 Canadian from a US company. The exchange added to and paid in cash on the transaction was $42,650. Freight paid on bringing the equipment to Canada was $22,250 and installation and testing once on location was $6,500. They received a discount on the purchase of $5,600 due to a delay in delivery. All items were paid for and the equipment was installed and operational on January 1, 2023 and the year-end is December 31, 2023. Requirments: 1 What is the total cost of the capital asset and what is the entry to record the asset? For all of the following questions, assume the cost was determined to be $208,000 Marks Available 2 2 If salvage value is $8,000 and useful life is 40 years what would the amortization expense be using the straight line method for year one and year two? Marks Available 1 3 If the salvage value and useful life was the same, but the equipment wasn't installed and operational until October 1,2023, what would the amortization expense be under the straight line method for year one and year two? Marks Available 4 If the purchase price and residual value remain the same and estimated units of production for the life of the unit was 600,000 units, and the units produced in year one was 33,200 units and in year two was 62,300 units. What would the per unit depreciation amount be? What would the amortization expense be for year one and then for year two? What is the net carrying amount after year two? Marks Available 2.5 5 Again if the purchase price, residual value, and installation date were the same as requirements one and two but instead of the straight line method, the double declining balance method was used at 20%. What would the amortization expense be for year one and year two? Prepare the journal entry to record the amortization for the first year, include a description. Marks Available 3