Determining Cost of Land Fastball Delivery Company acquired an adjacent lot to construct a new warehouse, paying 140,000 and giving a short-term note for $292,000. Legal fees paid were $2,085, delinquent taxes assumed were $15,200, and fees paid to remove an old building from the land were $19,500. Materials salvaged from the demolition of the building were sold for $5,000.A contractor was paid $1,009,300 to construct a new warehouse. Determine the cost of the land to be reported on the balance sheet. Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $152,900 has an estimated residual value of $5,900 and an estimated usefu ife of 10 years Determine the following: (a) The depreciable cost (b) The straight-line rate (o) The annual straight-line depreciation Units-of-activity Depreciation A truck acquired at a cost of $260,000 has an estimated residual value of $13,500, has an estimated useful life of 34,000 miles, and was driven 3,400 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The Depreciable Cost (b) The Depreciation Rate per mile c) The Units-of-activity Depreciation for the Year