iHeartMedia, Inc. in their annual report for the year ending December 31, 2015, state that the plant assets reported on its balance sheet includes the EEB (Click the icon to view the data.) Depreciation is computed using the straight-line method. Read the requirements. Data Table 9,600 Plant Asset Buildings and improvements Structures Towers, transmitters, and studio equipment Useful Life 10 to 39 years 5 to 15 years 7 to 20 years 3 to 20 years Dec. 31Depreciation Expense-Structure 9,600 To record depreciation on structure e and other equipment Requirement 2. What would be the book value of the structurthee Requirements Print Done Structure purchased on August 1, Year 1 1. Suppose iHeartMedia, Inc. purchases a new advertising structure for $100,000 on August 1. The residual value of the structure is $4,000 and the useful life is 10 years. How would iHeartMedia record the depreciation expense on December 31 in the first year of use? What about the second year of use? What would be the book value of the structure at the end of the first year? What would be the book value of the structure at the end of the second year? What would be the impact on iHeartMedia, Inc. financial statements if they failed to record the adjusting entry related to the structure? Book value at December 31 Year 1 Book value at December 31 Year 2 Enter any number in the edit fields and then click Check Answer 2. 3. Check Answer remaining