Problem 9-2A In its first year of business, Buffalo purchased land, a building, and equipment on March 5, 2016, for $653,000 in total. The land was valued at $282,000, the building at $340,500, and the equipment at $68,000. Additional information on the depreciable assets follows: Asset Residual Value Useful Life in Years Depreciation Method Building $25,000 60 Straight-line Equipment 4,000 Co Double diminishing-balance Allocate the purchase cost of the land, building, and equipment to each of the assets. (Round percentage of total to 2 decimal places and final answers to 0 decimal places, e.g. 5,275.) Land $ Building $ Equipment $ Buffalo has a December 31 fiscal year end and is trying to decide how to calculate depreciation for assets purchased during the year. Calculate depreciation expense for the building and equipment for 2016 and 2017 assuming depreciation is calculated to the nearest month. (Round answers to 0 decimal places, e.g. 5,275.) 2016 2017 Building $ Equipment $