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Problem 2: On January 1, 2019, Planet Corporation, a U.S. company, acquired 100% of Star Corporation, a Bulgarian company, paying an excess of 90,000 Bulgarian Lev over the book value of Star's net assets on the acquisition date. The excess was allocated entirely to undervalued equipment with a three-year remaining useful life. Star's functional currency is the Bulgarian Lev. Star's books are maintained in the functional currency. Exchange rates for Bulgarian Lev for 2019 through 2021 are as follows (USD/BGN), if average rates are necessary, calculate the simple mean for the respective year (i.e., (beginning + ending)/2): January 1, 2019 $0.71 December 31, 2019 0.74 December 31, 2020 0.60 December 31, 2021 0.58 Required: 1.) Determine the depreciation expense stated in U.S. dollars on the excess allocated to equipment for each of the three years ended December 31, 2019, 2020 and 2021, respectively. 2.) Determine the unamortized excess allocated to equipment on December 31, 2019, 2020 and 2021, respectively, in U.S. dollars. 3.) If Star's functional currency was the U.S. dollar, what would be the depreciation expense on the excess allocated to the equipment for each of the three years ended December 31, 2019, 2020 and 2021, respectively. Problem 2: On January 1, 2019, Planet Corporation, a U.S. company, acquired 100% of Star Corporation, a Bulgarian company, paying an excess of 90,000 Bulgarian Lev over the book value of Star's net assets on the acquisition date. The excess was allocated entirely to undervalued equipment with a three-year remaining useful life. Star's functional currency is the Bulgarian Lev. Star's books are maintained in the functional currency. Exchange rates for Bulgarian Lev for 2019 through 2021 are as follows (USD/BGN), if average rates are necessary, calculate the simple mean for the respective year (i.e., (beginning + ending)/2): January 1, 2019 $0.71 December 31, 2019 0.74 December 31, 2020 0.60 December 31, 2021 0.58 Required: 1.) Determine the depreciation expense stated in U.S. dollars on the excess allocated to equipment for each of the three years ended December 31, 2019, 2020 and 2021, respectively. 2.) Determine the unamortized excess allocated to equipment on December 31, 2019, 2020 and 2021, respectively, in U.S. dollars. 3.) If Star's functional currency was the U.S. dollar, what would be the depreciation expense on the excess allocated to the equipment for each of the three years ended December 31, 2019, 2020 and 2021, respectively