21 Problem 9-7A Calculating depreciation LO2 Use the following table: 12 points eBook Big Sky Farms Partial Balance Sheet April 30, 2020 Property, plant and equipment: Land Building? Less: Accumulated depreciation Equipment2 Less: Accumulated depreciation Total property, plant and equipment $ 720,000 Print $840,000 616,000 560,000 237, 440 224,000 References 322,560 $1,266,560 The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line method Depreciation is based on a 15-year life, after which it will be demolished and replaced with a new one. 2The equipment was purchased on November 3, 2017, and is depreciated to the nearest whole month using the double-declin balance method. The total estimated useful life is 10 years with a residual value of $250,000. Required: 1. Calculate and record depreciation for the year just ended April 30, 2021. for both the building and equipment. View action is