1222299 38) Acer, Inc. plans to develop a shopping center. In the first quarter. the following amounts were spent: Acquisition of land $16,000 Surveys and legal fees 1.200 Land clearing 1.100 Fencing 7,000 Install lighting and signage 1,760 What amount should be recorded as the cost of the land in the corporation's books? A) $25,300 B) $18,300 C) $20,060 D) $24,100 39) On January 1, 2017, Anodel, Inc. acquired a machine for $1,080,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $56,000. Calculate the depreciation expense per year using the straight-line method. A) $216,000 B) $204,800 C) $260,800 D) $270,000 0 160 sabem 40) A photocopier cost $95,000 when new and has accumulated depreciation of $90,000. If the business discards this plant asset, the result is A) a loss of $5,000 B) a loss of $11,250 C) a gain of $5,000 D) no gain or no loss