On January 1, 2020, ABC acquired a piece of land at a cost of $ 4,279,265. $ 93,243 was invested in preparing the land for its use. The company hopes to use the land for 7 years and then sell it for $ 18014. How much will the land depreciation expense be as of December 31, 2020, if the straight-line method is used? to. $ 622070.57 b. $ 624644.00 C. $ 608750.14 d. $0 On October 1, 2020, ABC acquired a new team. If residual value is excluded from the depreciation computation, net income for 2018 will be Select one: to. underestimated under the Straight line method b. over-estimated under the Straight line method C. underestimated under the Double Declining Balance method d. over-estimated under the method of Double Rate on the Decreasing Balance (Double declining balance) On March 31, 2020 ABC acquired a truck at a cost of $ 1097,718. A residual value of $ 18014 and a useful life of 7 years was estimated. The company uses the Double Declining Balance Rate to depreciate its assets. Indicate the depreciation expense that will be reported in the Statement of Income and Expenses for the year ended December 31, 2021 (second year). to. $ 246426.49 b. $ 261350.97 C. $ 235225.29 d. $ 308486.86