Calculate the annual depreciation for the following assets for the entire lifespan of each asset. Each asset

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Question:

Calculate the annual depreciation for the following assets for the entire lifespan of each asset. Each asset will have a different method to utilize. In addition, complete the applicable journal entries for each asset for the tax year 2014

Land: 25 acres valued at $56,000, inherited, currently in Year2.?

Warehouse: Built-in 2012—started to use on 1/6/2012, basis$39,000, residual value $10,000, 30-year life uses straight-line depreciation—currently in year three.?

Machinery: Straight line cost $22,000, $6,000 residual value, five-year life—purchased 10/1/2012, currently in year three.?

2010 Truck: Cost $20,000, no residual value, four years, purchased and started using on 1/1/2014—currently year two.?