the water department of a city provides water to the nearby districts for a monthly fee. in year 2, it decides to take machinery on lease from one of the firms in the city. the lease term was decided to be 3 years and the ownership of the machinery would not transfer to the department at the end of the term. given that the useful life of the machinery was 2 years and the value of the leased asset was $120,000 in the books of the water department, what would be the amortization in the books in year 2?