BUS2101 Chapter 8B Quiz (Quiz 10) - Need one copy per 2 people Round all numbers to 2 decimal places. Assume 360 day years / 30 day months / hearest interval of 5 days, as learned in class. Assume Billy Bob and his girlfriend use a calendar year and recognize depreciation on December 31 of each year. You can round journal entries and final answers to the nearest dollar if you like. Make sure you show ALL your work and attach it to this sheet! On March 11, 2019, Billy Bob got a new girlfriend and wanted to impress her. Therefore, he went out and paid $70,000 for a Corvette. B. Bob estimates that his Corvette will have a salvage value of $15,000 at the end of its 8-year useful life. A) What is the book value of the car on January 1, 2023 if Billy Bob uses straight-line depreciation? B) What is the book value of the car on January 1, 2023 if Billy Bob uses double- declining balance (DDB) deprecation? C) What would Billy Bob's journal entries look like if he sold the car for $40,000 on October 26, 2021 using straight-line deprecation? On October 26, 2021, Billy Bob's girlfriend dumped B. Bob and wanted to celebrate, so she bought a Mercedes-Benz for $85,000. She estimates that her car will last 16 years and have a salvage value of $29,000 at the end of its 16-year life. D) What is the book value of her car on January 1, 2023 if B. Bob's ex-girlfriend uses straight-line depreciation? E) What is the book value of her car on January 1, 2029 if B. Bob's ex-girlfriend uses double-declining balance (DDB) depreciation? F) What would B. Bob's ex-girlfriends journal entries look like if she sold her car for $45,000 on October 26, 2037 using DDB depreciation?