In its first year of business, Coronado purchased land, a building, and equipment on March 5, 2020, for $636,000 in total. The land was valued at $269,400, the building at $336,750, and the equipment at $67,350. Additional information on the depreciable assets follows: Asset Residual Value Useful Life in Years Building $25,200 60 Equipment 8 Depreciation Method Straight-line Double diminishing-balance 4.000 Your answer is correct. Allocate the purchase cost of the land, building, and equipment to each of the assets. Land $ 254400 Building $318000 Equipment $63600 Your answer is partially correct. Try again. Coronado has a December 31 fiscal year end and is trying to decide how to calculate depreciation for assets purchased during the year. Calculate depreciation expense for the building and equipment for 2020 and 2021 assuming depreciation is calculated to the nearest month. (Round answers to 0 decimal places, e.g. 5,275.) 2020 2021 Building $4066 Equipment Your answer is incorrect. Try again. Coronado has a December 31 fiscal year end and is trying to decide how to calculate depreciation for assets purchased during the year. Calculate depreciation expense for the building and equipment for 2020 and 2021 assuming a half-year's depreciation is recorded in the year of acquisition. (Round answers to o decimal places, e.g. 5,275.) 2020 2021 Building Equipment Your answer is incorrect. Try again. Which policy should Coronado follow in the year of acquisition: recording depreciation to the nearest month or recording a half year of depreciation