Required information Problem 7-7A (Algo) Compute depreclation, amortization, and book value of long-term astets (LO7-4, 7. 3) [The following information apples to the questions displayed below]. Cheesesteak Sandwich Shop had the following long-term asset balarices as of January 1.2024: - Cheesesteak purchased all the ascets at the beginning of 2022 - The butiding li depreclated over a 20 -year service life using the double-decining-balance method arid estimating no residual value. - The equipment if depreciated over a 8-year service life using the straight-line method whth an estimated residual yalue of $10,000 - The patertis estimated to have a five-year useful life with no residual valus and is amorszed using the stralght-ine method - Depreciation and amortization have bven recorded for 2022 and 2023 dirtit twq years? Problem 7.7 (Algo) Part 3 3. Calculate the book value for each of the fout longterm assets at December 31,2024