Accumulated Depreciation Land Building Equipment Patent Cost $ 84,000 449,000 202,200 195,000 $(85, 310) (47,800) (78,000) Book Value $ 84,000 363,690 154,400 117,000 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 $11,000. 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. SOLICH SANDWICH SHOP December 31, 2021 Book value Land Building Equipment Patent