Question: Your answer is incorrect. Assume that additional information has been provided relating to the cost ($864,000). There are three components of the plant asset. Components

Your answer is incorrect. Assume that additional information has been provided relating to the cost ($864,000). There are three components of the plant asset. Components 1, 2, and 3 have costs of $365,000, $252,000, and $247,000, respectively. The useful lives of components 1, 2, and 3 are 25, 20, and 30 years, respectively. Determine straight-line depreciation expense for 2023 and 2024 for each component under IFRS if the residual value is $110,000 for component 1, $156,000 for component 2, and $58,000 for component 3. (Do not round intermediate calculations and round answers to O decimal places, e.g. 5,275.) Component 1 Component 2 Component 3 $ GA LA 2023 Depreciation expense LA 2024

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