Jupiter Wells Corp. purchased machinery for $\backslash (\backslash$$ $315,000\backslash )$ on May $1,2020.$ It is estimated that it will have a useful life of $10$ years, residual value of $\backslash (\backslash$$ $15,000\backslash ),$ production of $240,000$ units, and $25,000$ working hours. The machinery will have a physical life of $15$ years and a salvage value of $\backslash (\backslash$$ $3,000\backslash ).$ During $2021,$ Jupiter Wells Corp. used the machinery for $2,650$ hours and the machinery produced $25,500$ units. Jupiter Wells prepares financial statements in accordance with IFRS. Instructions From the information given, calculate the depreciation charge for $2021$ under each of the following methods, assuming Jupiter Wells has a December $31$ year end. a$.)$ Straight$-$line b$.)$ Unit of production c$.)$ Working hours d$.)$ Declining$-$balance, using a $\backslash (20\backslash \%\backslash )$ rate e$.)$ Sum$-$of$-$the$-$years'$-$digits f$.)$ CCA at $\backslash (20\backslash \%\backslash )$ g$.)$ Assume that Jupiter Wells is a small privately owned company that follows ASPE and uses straight$-$line depreciation. How would depreciation expense differ, if at all? Provide calculations to support your answer. h$.)$ Assuming that Jupiter Wells follows ASPE, from the perspective of a potential investor in Jupiter Wells, discuss the advantages and disadvantages of Jupiter Wells using the capital cost allowance approach to calculate and record depreciation expense for financial reporting purposes.

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