Dusty Shelving Co. purchased a tract of land, building, and equipment on January 1, 2015 for $ 700,000. Dusty determined that the market values (i.e. "fair values") of each asset were $500,000; $300,000; and $200,000, respectively. Dusty utilizes straight-line depreciation with a 40 year life and no residual value for all buildings. Dusty utilizes double-declining depreciation with a 5 year life and $10,000 residual value for equipment