Bismarck and Altoona exchange buildings. The transaction has commercial substance. The following information was obtained: Cost Accumulated Depreciation Fair value based upon appraisal Bismarck's Building $60,000 20,000 50,000 Altoona's Building $45,000 20,000 40,000 The exchange was made, and based on the difference in appraised value, Altoona paid $10,000 to Bismarck. The new building should be recorded on Bismarck's books at: Select one: a. $35,000 b. $32,000 c. $40,000 d. $38,000 e. $50,000 Rye Co. purchased a machine with a four-year estimated useful life and an estimated 10% salvage value for $80,000 on Janua 1, 2015. In its income statement, what would Rye report as the depreciation expense for 2016 using the double declining balance method? Select one: a. $9,000 O b. $10,000 O c. $20,000 d. $40,000