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Book Value of Fixed Assets The following data (in millions) were adapted from recent annual reports of United Parcel Service, Inc. (UPS). UPS provides delivery and freight services throughout the world. Year 2 Year 1 Vehicles $725,520 Aircraft $420,802 544,140 Land 94,318 Buildings 660,223 689,244 108,828 877,879 935,921 14,510 (921,410) Equipment Construction in progress 928,666 7,255 (769,051) Less accumulated depreciation a. Compute the book value of the fixed assets for years 1 and 2. Year 2 book value million Year 1 book value million b. UPS appears to have its operations in year 2 from of fixed assets. This is typical of growing companies. Compare Two Depreciation Methods Bayside Coatings Company purchased waterproofing equipment on January 2, 2014, for $190,000. The equipment was expected to have a useful life of four years and a residual value of $9,000. Instructions: Determine the amount of depreciation expense for the years ended December 31, 2014, 2015, 2016, and 2017, by (a) the straight-line method and (b) the double declining-balance method. Also determine the total depreciation expense for the four years by each method. Depreciation Expense Straight-Line Method Double-Declining-Balance Method Year 2014 2045 2046 2017 // / Total