Fields Corporation recently purchased the following assets on July 1, 2021 paying $700,000 for all three assets. The fair market values and other information is as follows: Building Equipment Truck Fair Value 400,000 220,000 180,000 Residual Value 50,000 20,000 Estimated Life 40 years 10 years 30,000 318,750 miles Depreciation Method Straight Line Double Declining Balance Units of Production Required Calculate the cost of all three assets. Prepare the first two years of the depreciation schedules for all three assets. The truck was driven 17,500 miles in year 1 and 40,000 miles in year 2 Equipment - Double Declining Balance Year Expense Accumulated Depreciation Book Value 2