Exercise 9-9 Lump-sum purchase, double-declining-balance LO1, 2 On January 1, 2020, Creative Calligraphy Inc. purchased land, building, equipment, and tools for a total of $3,320,000. An appraisal identified the fair values to be $850,000 (and) $1,125,000 (building), $450,000 (equipment), and $75,000 (tools). The estimated useful life and residual value of the building was 10 years and $740,000, for the equipment, five years and $50,000; and for the tools, three years and $7.800. Required: Calculate depreciation for 2020 and 2021 using the double-declining-balance method. Creative Calligraphy's year-end is December 31. (Do not round intermediate calculations and round your final answers to nearest whole dollar.) X Answer is not complete. PPE Asset Land Building Equipment Tools 2020 2021 Depreciation Depreciation 0$ 0 IS 225,000 $ 180,000 X IS 2,305,000 X