Math This is one continuous problem with 10 questions and an extra credit opportunity. The extra credit should be submitted as an excel spreadsheet showing all of your work, by 9AM tomorrow morning. Label it: YOUR LAST NAME space Your First Initial space QUIZ ONE EC. Improper labels will be rejected. You purchased a property for $1,000,000. Twenty percent of the purchase price represents land. The depreciable life of the asset is 40 years. Questions 1) What amount of your purchase can be depreciated? a. 1,000,000 b. 200,000 C. 800,000 d. 25,000 2) How much is depreciation each year? a. 25,000 b. 20,000 C. 5,000 d. 40,000