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Please show all steps and only use excel if you can! Thank you! The Perkins Construction Company bought a building for $700,000 to be used

Please show all steps and only use excel if you can! Thank you!

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The Perkins Construction Company bought a building for $700,000 to be used as a warehouse. A number of major structural repairs completed at the beginning of the current year at a cost of $155,000 are expected to extend the life of the building 10 years beyond the original estimate. For book purposes, the building has been depreciated by the straight-line method for 25 years. The salvage value is expected to be negligible and has been ignored. The book value of the building before the structural repairs is $350,000. Click the icon to view the MACRS percentages for nonresidental real property: Straight-line over 39 years with midmonth convention. (a) What has the amount of annual depreciation been in past years? The amount of annual depreciation in past years has been $ 28,000 (Round to the nearest dollar.) (b) What is the book value of the building after the repairs have been recorded? The book value of the building after the repairs have been recorded is s 505,000. (Round to the nearest dollar.) (c) What is the amount of depreciation for the current year, according to the straight-line method? (Assume that the repairs were completed at the very beginning of the year.) According to the straight-line method, the amount of depreciation for the current year is $ 22,444 (Round to the nearest dollar.) (d) For tax purposes, what is the amount of depreciation for the current year, assuming that the building belongs to a 39-year real property class? Assuming that the building belongs to a 39-year real property class, the amount of depreciation for the current year is $ 21,923 (Round to the nearest dollar.)

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