Voltech Motors, a US$-$based car manufacturer, purchased a painting robot from TechArt Robotics, a German company, for $$950,000.$ The robot required shipment, costing

$$10,000,$ and customs fees of $$5,000.$ Additionally, Voltech Motors spent $$35,000$ to modify the robot with advanced spray nozzles, in accordance with their internal standards. The robot was installed in the factory and ready to work on January $1$st$,2020.$

The useful life of the painting robot was estimated to be $4$ years, with a residual value of $$70,000.$

$1.$ Define the cost of an asset. What is the cost of the robot to Voltech Motors?

$2.$ Voltech Motors is using the Double Declining method to record depreciation for this Robot. What is Depreciation, and why is the Double Declining method a suitable method for this particular asset?

$3.$ Prepare a $4-$year schedule of depreciation under the Double Declining method