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17 2.77 points 02:35:09 Skipped Tristen Company purchased a five-story office building on January 1, 2019, at a cost of $8,300,000. The building has
17 2.77 points 02:35:09 Skipped Tristen Company purchased a five-story office building on January 1, 2019, at a cost of $8,300,000. The building has a residual value of $330,000 and a 40-year life. The straight-line depreciation method is used. On June 30, 2021, construction of a sixth floor was completed at a cost of $2,625,000. Required: Calculate the depreciation on the building and building addition for 2021 and 2022 assuming that the addition did not change the life or residual value of the building. (Hint: Calculate depreciation for the building and addition separately. Assume the addition has no residual value and an estimated life equal to the remaining useful life of the building.) Depreciation eBook: Year Building Addition Hint 2021 Print 2022 References
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