Question 7 of 13 Current Attemptin Progress -/12 In its first year of business, Pearl purchased land, a building, and equipment on March 5, 2023, for $660,000 in total. The land was valued at $290,640, the building at $332,160, and the equipment at $69,200. Additional information on the depreciable assets follows: Asset Residual Value Useful Life in Years Depreciation Method Building $19,800 60 Straight-line Equipment 7,000 8 Double diminishing-balance Allocate the purchase cost of the land, building, and equipment to each of the assets. Land 277200 Question Part Score -/4 Pearl 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 2023 and 2024 assuming a half-year's depreciation is recorded in the year of acquisition. (Round answers to O decimal places, e.g. 5,275) Building $ Equipment $ Question Part Score 2023 $ 2024 -/4