2. Albany Inc. purchased land for $100,000. It paid $20,000 to raze an old building and it received $2,000 for salvage of materials. What is the cost of the land? a. $100,000 b. $120,000 c. $122,000 d. $118,000 3. A company purchased a piece of equipment for $23,000 on March 1, 2019. Management estimates a salvage value of $3,000, a useful life of 5 years and estimated production output of 11,000 units. It produced 2,000 units in 2019. Where applicable, it applies the half-year rule. What is depreciation expense for 2019 using the units- of-production method (rounded to nearest dollar)? a. $3,030 b. $4,000 c. $3,636 d. $3,333