George Young Industries (GYI) acquired industrial robots at the beginning of 2010 and added them to the company assembly process. During 2013, management became aware that the $1 million cost of the machinery was inadvertently recorded as repair expense on GYI’s books and on its income tax return. The industrial robots have 10-year useful lives and no material salvage value. This class of equipment is depreciated by the straight-line method for financial reporting purposes and for tax purposes it is considered to be MACRS 7-year property (cost deducted over 7 years by the modified accelerated recovery system as follows): Year MACRS Deductions 2010 $ 142,900 2011 244,900 2012 174,900 2013 124,900 2014 89,300 2015 89,200 2016 89,300 2017 44,600 Totals $ 1,000,000 The tax rate is 40% for all years involved. Required: 1. Prepare any journal entry necessary as a direct result of the error described. 2.? need any??? 3. Prepare the adjusting entry for 2013 depreciation.