Could you please help me with this question. I am not sure how to answer it.

A B C D E F G H K L M N O DEPRECIATION AND SALE OF FIXED ASSET 2 ABC Limited imported technical equipment costing f 300,000 on July 1, 2015. It further incurred the following 4 expenses on the equipment: 5 6 i) Import duty f 100,000 7 ii) Transportation cost Rs. f 10,000 to bring the equipment to factory premises 8 ii) Insurance in transit Rs. E 400 9 iv) Fire insurance f 1,000 10 11 Initially the useful life was estimated to be 5 years and depreciation was provided on straight line basis. The 12 estimated salvage value was f 35,000. 13 14 During the year 2016-17 the company estimated the remaining life of the equipment to be five years instead of 15 four years. The salvage value was re-estimated at f 40,000. 16 17 The machine was sold on July 1, 2018 for f 280,000. 18 19 Required: 20 21 a) Calculate depreciation expense for the years ended June 30, 2016, 2017 and 2018 22 23 b) Pass journal entry to record the sale of machine. 24 25