3 Required information Problem 7-7A Compute depreciation, amortization, and book value of long-term assets (LO7-4, 7-5) (The following information applies to the questions displayed below.) Part 3 of 3 Solich Sandwich Shop had the following long-term asset balances as of December 31, 2021: 0.75/1.5 points awarded Accumulated Depreciation Cost $ 76,000 441,000 221,900 155,000 Land Building Equipment Patent Scored Book Value $ 76,000 282,240 175,700 93,000 $ (158, 760) (46, 200) (62,000) Solich purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 10-year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a 9- year useful life using the straight-line method with an estimated residual value of $14,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2019 and 2020. Problem 7-7A Part 3 3. Calculate the book value for each of the four long-term assets at December 31, 2021. SOLICH SANDWICH SHOP December 31, 2021 Book value Land $ 76,000 Building 225,792 Equipment 157,733 X Patent 74,400 X