A company purchased land and building from a seller for $900,000. A separate appraisal reveals the fair value of the land to be $200,000 and the fair value of the building to be $800,000. For what amount would the company record land at the time of purchase? Multiple Choice $900.000 $200.000 $180,000. $220.000 Kansas Enterprises purchased equipment for $78,500 on January 1, 2021. The equipment is expected to have a ten-year service life, with a residual value of $7,650 at the end of ten years. Using the straight-line method, depreciation expense for 2021 would be: Multiple Choice $7,085 O 58,615. O O $15,700. 2 O $7,850. MC Graw Hill Kansas Enterprises purchased equipment for $78,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $7,500 at the end of five years. 4. Using the double-declining balance method, depreciation expense for 2021 would be (Do not round your intermediate calculations) 3.5 points Multiple Choice $23,700 $31,200 S15,600 $28.200 MC Graw Hill Type here to search o 38F Clear D 10:53 PM 12/17/2021