Question: Please answer correctly. Thank you so much. On March 31, 2021, Susquehanna Insurance purchased an office bullding for $12,000,000. Based on their relative fair values,

Please answer correctly. Thank you so much.
Please answer correctly. Thank you so much. On March 31, 2021, Susquehanna

On March 31, 2021, Susquehanna Insurance purchased an office bullding for $12,000,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,360,000 and $860,000, respectively. The company uses the straight-line method to depreciate its bulldings and the double-declining balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these assets are as follows: Service Residual Life Value Building 30 10% of cost Furniture and fixtures 10% of cost office equipment 10 $46,000 20 Required: Calculate depreciation for 2021 and 2022. (Do not round Intermediate calculations.) Depreciation 2021 2022 Building Furniture and fixtures Onice equipment

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