depreciation Complete this question by entering your answers in the tabs below. Required 1A Required 1B Required 2 Required 3 Allocate the lump-sum purchase price to the separate assets purchased. Allocation of total cost Appraised Value Percent of Total Appraised Value Total cost of Acquisition Apportioned Cost % % Building Land Land improvements Vehicles Total se % % Required 1A Required 1B > View transaction list Journal entry worksheet Required information 1-b. Prepare the journal entry to record the purchase. 2. Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15-year life and a $29,000 salvage value. 3. Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining balance depreciation Complete this question by entering your answers in the tabs below. Required 1A Required 18 Required 2 Required 3 Compute the first-year depreciation expense on the land improvements assuming a five-year life and double-declining- balance depreciation Depreciation expense on land improvements