Exercise 11-7 Depreciation methods; partial periods [L011-2] On March 31, 2018, Susquehanna Insurance purchased an office building for $13,800,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,260,000 and $760,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these assets are as follows: Service Life 25 20 1e Residual alue Building Furniture and fixtures Office equipment 1% of cost 10% of cost $36,eee Required: Calculate depreciation for 2018 and 2019. (Do not round intermediate calculations.) Depreciation 2018 2019 $ 331,200 Building Furniture and fixtures Office equipment