16 Problem 9-7A Calculating depreciation LO2 Use the following table: 62/12 ints awarded Scored Big Sky Farms Partial Balance Sheet April 30, 2029 Property, plant and equipment: Land Building Less: Accumulated depreciation Equipment 2 Less: Accumulated depreciation Total property, plant and equipment - 740,000 eBook $870,000 638,000 580,000 245,920 232,000 Print References 334, 080 $1,386,080 'The building was purchased on May 3, 2009, and is depreciated to the nearest whole month using the straight-line met Depreciation is based on a 15-year life, after which it will be demolished and replaced with a new one. 2The equipment was purchased on November 3, 2017 and is depreciated to the nearest whole month using the double- balance method. The total estimated useful life is 10 years with a residual value of $250,000. Required: 1. Calculate and record depreciation for the year just ended April 30, 2021, for both the building and equipment. w here to search