1. The cost of repairing uninsured vandalism damage during construction is included in the capitalized cost of a building (True or False)? 2. Insurance and interest costs during construction are included in the cost of a building (True or False)? 3. A machine with a cost of $110,000 has an estimated residual value of $10,000 and an estimated life of five years or 20,000 hours. It is to be depreciated by the units-of-activity method. What is depreciation for the second full year, when the machine was used for 4,000 hours 4. Equipment with a cost of $220,000 has an estimated residual value of $20,000 and an estimated life of 10 years or 20,000 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 1,600 hours? 5. A machine with a cost of $100,000 has an estimated residual value of $5,000 and an estimated life of fve years or 20,000 hours. What is depreciation for the second full year, using the double-declining method? 6. Expected useful life is determined each year that the depreciation calculation is made (True or False)? 7. Regardless of the depreciation method used, the amount of total depreciation expense over the life of the asset will be the same (True or False) 8. Goodwill is amortized over 20 years or its useful life, whichever is shorter (True or False)? 9. Brooks Inc, sold one if its forklifts for $5,000. The equipment had an initial cost of $28,000, and has accumulated depreciation of $25,000. What is the gain or loss on this transaction