3. Calculate the book value for each of the four long-term assets at December 31, 2021. Answer is complete but not entirely correct. SOLICH SANDWICH SHOP December 31, 2021 Book value Land S 75,000 Building 345,400 Equipment 125,000 Patent 60,000 Help Required information [The following information applies to the questions displayed below) Solich Sandwich Shop had the following long-term asset balances as of December 31, 2021: Accumulated Depreciation Land Building Equipment Patent Cost $ 75,000 440,000 194,000 150,000 $(83,600) (46,000) (60,000) Book Value $ 75,000 356,400 148,000 90,000 Solich purchased all the assets at the beginning of 2019 (3 years ago). The building is depreciated over a 20-year service life using the double-declining-balance method and estimating no residual value. The equipment is depreciated over a 8- year useful life using the straight-line method with an estimated residual value of $10,000. The patent is estimated to have a five-year service life with no residual value and is amortized using the straight-line method. Depreciation and amortization have been recorded for 2019 and 2020. 3. Calculate the book value for each of the four long-term assets at December 31, 2021