1.Compute the cost of building based on the following data.

Down payment for land 120,000

Note payable for purchase of land 145,000

Cost of foundation 80,000

Cost of fence around property 24,000

Cost of construction of building 740,000

Cost to level land to remove unwanted building 9,400

Cost of lighting on the grounds 17,500

2. A company purchased equipment for $40,000 at the beginning of the year. Estimated residual value is $3,000 and the estimated useful life of the equipment is 10 years. What should be the amount of depreciation expense for the first year of the assets life using the straight-line method?

3. A new delivery truck was purchased for $22,000 to be used for 100,000 miles with a salvage value of $2,000. The company uses the units of production method to record depreciation expense. What should be the amount of depreciation expense for the first year if 15,000 miles were driven?