QUESTIONS 10 points Timberly Construction pays $900,000 for all assets purchased. The real estate consists of land appraised at $297,600; land improvements appraised at $28,800, building approksed at $308,800 and 4 vehicles appraised at $124.800. The building has a salvage value of $27.000 and a Useful life in years of 15. Part 1. Develop a model showing the correct allocation of the total cost among the four purchased assets? Part 2. Create the journal entry to record the purchase. Part 3. Design a depreciation schedule for the building showing the deprecation of the building for each year under the straight line method Part 4 What is the impact of accelerated depreciation on corporate Income taxes? Compose an answer outlining the impact TIMESERLY CONSTRUCTION Cashimice purchased 5 900 000 Estimated film $ 300 Land 292.600 Lange 5 20.000 Vehicles (4) 5 124 100 Building Useful in year 15 Salvadova 27.000