Question: PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU! On March 31, 2021, Susquehanna Insurance purchased an office building for $12,300,000. Based

PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU!

PLEASE PUT SOLUTION IN THE SAME FORMAT AS THE IMAGE THANK YOU!

On March 31, 2021, Susquehanna Insurance purchased an office building for $12,300,000. Based on their relative falr 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 $1,210,000 and $710,000, respectively. The company uses the straight-line method to depreciate its buildings 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 Life Building Furniture and fixtures Office equipment 25 20 10 Residual Value 10% of cost 19% of cost $31,000 Required: Calculate depreciation for 2021 and 2022. (Do not round Intermediate calculations.) Depreciation 2021 2022 Building Furniture and fixtures Office equipment

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