Please answer all questions with explanations. Thank you! QUESTION 18 On March 2, 2017, Glen Industries purchased a fleet of automobiles at a cost of $550,000. The cars are to be depreciated by the straight-line method over five years with no salvage value. Glen uses the half-year convention to compute depreciation for fractional periods. The book value of the fleet of automobiles at December 31, 2018, will be: $330,000. $385,000. $165,000. $495,000. QUESTION 19 On November 1, Year 1, Noble Co. borrowed $80,000 from South Bank and signed a 12%, six-month note payable, all due at maturity. The interest on this loan is stated separately. How much interest expense will Noble recognize on this note in Year 2? $4,800. $9,200. $3,200. $2,400. QUESTION 20 Public corporations are required by law or regulation to perform all of the following except: Have their annual financial statements audited by an independent CPA. c Disclose their financial information to the public. Make regularly scheduled dividend payments to all stockholders. Submit much of their financial information to the SEC for review. QUESTION 26