ice Exercises Question 1 of 2 0/1 5 View Policies Show Attempt History Current Attempt in Progress Kingbird Industries Inc, started construction of a manufacturing facility for its own use at an estimated cost of $9,600,000 on January 1, 2017. Kingbird expected to complete the building by December 31, 2017. Kingbird's debt, all of which was outstanding during the construction period, was as follows. Construction loan-11% interest, payable semiannually, issued December 31, 2016: $4,800,000 Long-term loan #1 - 10% interest, payable on January 1 of each year, Principal payable on January 1, 2016: 51,440,000 Long-term loan w2-12% interest, payable on December 31 of each year. Principal payable on December 31, 2025 $3.360.000 (a) Your Answer Correct Answer (Used) Coss 30 Jestion 1 of 2 0/1 (b) X Your answer is incorrect. Compute the depreciation expense for the year ended December 31, 2018, Kingbird estimated the facility's useful life to be 25 years with a salvage value of $960,000. Kingbird elected to depreciate the facility on a straight-line basis. Depreciation Expense 386119.68 eTextbook and Media Attempts: 1 of 2 used Submit Answer Save for Later Using multiple attempts will impact your score 20% score reduction after attempt 1 30 N atv 4 R 09 MacBook Pro