In its first year of business, Sweet Acacia purchased land, a building, and equipment on March 5, 2020, for $648,000 in total. The land was valued at $280,235, the building at $334,915, and the equipment at $68,350. Additional information on the depreciable assets follows:

Asset	Residual Value		Useful Life in Years		Depreciation Method
Building	$24,720		60		Straight-line
Equipment	7,000		8		Double diminishing-balance

Allocate the purchase cost of the land, building, and equipment to each of the assets.

Land		$
Building		$
Equipment		$

Sweet Acacia 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	$		$
Equipment	$		$

Sweet Acacia 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 0 decimal places, e.g. 5,275.)

	2020		2021
Building	$		$
Equipment	$		$