QUESTION 20 Equipment purchased at the beginning of the fiscal year for $360,000 is expected to have a useful life of 5 years, or 14.000 operating hours, and a residual value of $10,000 Assume 1.200 hours were used the first year and 2,250, the second year. What is the first-year depreciation for straight-line (SL), double-declining balance (DDB) and units of output (U00) methods? a. SL: $70,000; DDB: S140,000: UOO: 530,000 b.SL: 572,000, DDB: S144,000; UOO: $30,000 CSL: 72,000, DDB: S140,000; U00: 556,250 d. SL: $70,000, DDB: $144,000; UOO: $30,000 QUESTION 21 Which of the following is included in the cost of land? a outdoor parking lot lighting attached to the land b. brokerage commission C. cost of paving a parking lot d. fences on the land QUESTION 22 Expenditures for research and development are generally recorded as a assets and amortized over 40 years b. current assets C. current operating expenses d. assets and amortized over their estimated useful life