QUESTIONS Song Company purchased a depreciable asset for 5500,000 on July 1, 2015. The estimated salvage value is $40,000, and the estimated useful life is 5 years. The straight line method is used for depreciation. What is the balance in accumulated depreciation on July 1, 2018 when the asset is sold? a S48000 5276,000 $146.500 5252.000 QUESTION On January 2 2017, Hannah River Croves began construction of a new citrus processing plant. The automated plant was finished and ready for use on September 30, 2018 Espenditures for the construction were as follows: Indian Hannah Groves borrowed 3.200,000 on a construction loan at 12% interest on January 2, 2017. This loan was outstanding during the construction period. The company also had $12,000,000 in 9% bonds outstanding in 2017 and 2018 The interest capitalized for 2017 was a SINO,000 5.200,000 5140,000 $100000