QUESTION

# A building acquired at the beginning of the year at a cost of $1,630,000 has an estimated residual value of$340,000 and an estimated useful life of 10 years. Determine the following. a. The depreciable cost $fill in the blank 1 b. The straight-line rate fill in the blank 2 % c. The annual straight-line depreciation$fill in the blank 3   A truck acquired at a cost of $230,000 has an estimated residual value of$13,000, has an estimated useful life of 31,000 miles, and was driven 2,500 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. a. The depreciable cost $fill in the blank 1 b. The depreciation rate$fill in the blank 2 per mile c. The units-of-activity depreciation for the year $fill in the blank 3 A building acquired at the beginning of the year at a cost of$1,193,000 has an estimated residual value of $220,000 and an estimated useful life of 40 years. Determine the following. a. The double-declining-balance rate fill in the blank 1 % b. The double-declining-balance depreciation for the first year$fill in the blank 2   Equipment with a cost of $304,000 has an estimated residual value of$41,600, has an estimated useful life of 16 years, and is depreciated by the straight-line method. a.  Determine the amount of the annual depreciation.$fill in the blank 1 b. Determine the book value at the end of the tenth year of use.$fill in the blank 2 c.  Assuming that at the start of the eleventh year the remaining life is estimated to be eight years and the residual value is estimated to be $16,800, determine the depreciation expense for each of the remaining eight years.$fill in the blank 3  