· Microsoft Corporation purchased a building on January 1, 2023, for $5,000,000. The building has an estimated useful life of 50 years and a residual value of $500,000. Using the straight-line method, calculate the annual depreciation expense for the building. If Microsoft Corporation sold the building on December 31, 2024, for $4,800,000, record the journal entry to recognize the sale and calculate the gain or loss on disposal.