Sunflower Ltd acquires a Mixture Machine from Lilly Ltd for the following consideration: Cash $60 000 Land In the books of Sunflower Ltd the land is recorded at its cost of $300 000. It has a fair value of $280 000 due to toxic substance being discovered in the land. Equipment: In the books of Sunflower Ltd the equipment is recorded at a cost of $150000. The equipment has an accumulated depreciation balance of $60000. The fair value of the equipment is $69000 Settlement of liability Sunflower Ltd also settles a liability of Lilly Ltds bank loan of $90 000 as part of the Mixture Machine acquisition. Other costs Sunflower Ltd also spend $15000 as the installation cost. Insurance costs during transportation was $7500. Freight cost for the machine was $2100. During first year of operation, the company paid $3000 as the maintenance cost for the machine. REQUIRED (a)Calculate the acquisition cost of the Mixture Machine that will be used as the base for future depreciation charge. (b)Provide the journal entries that would appear in Sunflower Ltds books to account for the acquisition of the Mixture Machine (c) Will the maintenance cost be included in the acquisition cost of the machine? Justify your answer.