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 $3,120,000. An appraisal identified the fair values to be $768,000 (land), $1,152,000 (building), $384,000 (equipment), and $96,000 (tools). The estimated useful life and residual value of the building was 10 years and $730,000; for the equipment, five years and $48,000; and for the tools, three years and $7,600. 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.) Land PPE Asset 2020 Depreciation 2021 Depreciation Building Equipment Tools