On January $1,2019,$ Calvin Company purchased a building and machinery that have the following useful lives, salvage value, and costs.

Building, $30-$year estimated useful life, $$65,000,000$ cost$,$ $$5,000,000$ salvage value Machinery, $15-$year estimated useful life, $$6,000,000$ cost$,$ no salvage value

The building has been depreciated under the straight$-$line method through $2023.$ In $2024,$ the company decided to switch to the double$-$declining balance method of depreciation for the building. Calvin also decided to change the total useful life of the machinery to $10$ years $($measured from the original acquisition date$),$ with a salvage value of $$500,000$ at the end of that time. The machinery is depreciated using the straight$-$line method.

Instructions

a$)$ Prepare a detailed calculation of $2024$ depreciation expense on the building.

b$)$ Prepare the journal entry necessary to record the depreciation expense on the building in $2024.$ Journal entry description is not required.

c$)$ Prepare a detailed calculation of $2024$ depreciation expense on the machinery.