Please answer the following

1. Nanki Corporation purchased equipment on January 1, 2014, for $647,000. In 2014 and 2015, Nanki depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $15,000 residual value. In 2016, due to changes in technology, Nanki revised the useful life to a total of 4 years with no residual value. What depreciation would Nanki record for the year 2016 on this equipment? (Round your answer to the nearest dollar amount.)

$105,333.

$244,500.

$103,790.

None of these answer choices are correct.

2.

Murgatroyd Co. purchased equipment on January 1, 2014, for $560,000, estimating a four-year useful life and no residual value. In 2014 and 2015, Murgatroyd depreciated the asset using the sum-of-years'-digits method. In 2016, Murgatroyd changed to straight-line depreciation for this equipment. What depreciation would Murgatroyd record for the year 2016 on this equipment? (Do not round your depreciation rate.)

$140,000.

$ 84,000.

None of these answer choices are correct.

$168,000

3.

Asset C3PO has a depreciable base of $27.50 million and a service life of 10 years. What would the accumulated depreciation be at the end of year five under the sum-of-the-years' digits method? (Do not round intermediate calculations.)

$20.00 million.

$13.75 million.

None of these answer choices are correct.

$7.50 million

4.

Broadway Ltd. purchased equipment on January 1, 2014, for $880,000, estimating a 5-year useful life and no residual value. In 2014 and 2015, Broadway depreciated the asset using the straight-line method. In 2016, Broadway changed to sum-of-years'-digits depreciation for this equipment. What depreciation would Broadway record for the year 2016 on this equipment? (Do not round your depreciation rate.)

$264,000.

$352,000.

$132,000.

$176,000

5.

Granite Enterprises acquired a patent from Southern Research Corporation on January 1, 2016 for $3.3 million. The patent will be used for 5 years, even though its legal life is 20 years. Rocky Corporation has made a commitment to purchase the patent from Granite for $110,000 at the end of five years. Compute Granite's patent amortization for 2016, assuming the straight-line method is used.

$330,000.

$319,000.

$638,000.

$660,000.