Unilever Group purchased a machinary on January 1, 2017, that cost Tk 400,000 and the installation cost of the machine was Tk 10,000. The company estimated the useful lives of the asset will be 5 years and residual value will be 50,000. The company uses straight line method for depreciation. Unilever decides to report the machinary at fair value in subsequent periods. At December 31, 2017, it was found its fair value is Tk 480,000. In December 31, 2018, the machinary was again revalued and found the fair value of Tk 350,000. Required: Show the appropriate calculation of the asset according to IAS-16 and prepare the journal entries i. For purchase of machinary ii. For depreciation iii. For revaluation in 2017 and 2018.