Required information (The following information applies to the questions disoloyed beiow/ Xavier Construction negotiates a lump-sum purchase of several assots from a company that is going out of business. The purshase is completed on January 1,202t at a total cast price of 57875500 for a building. fand, land amprovements, and four vehicles. The estimated market values of the asseth are building, $408,000; land, $289,000; land inprovemenis, \$42,500; and four vehicies, $110,500. The company's financial year ends on December 31 . Compute the depreciation expense for year 2021 on the tand improvements assuming a five-year life and double-deciling baiance preciation. Required information (The following information applies to the questions disoloyed beiow/ Xavier Construction negotiates a lump-sum purchase of several assots from a company that is going out of business. The purshase is completed on January 1,202t at a total cast price of 57875500 for a building. fand, land amprovements, and four vehicles. The estimated market values of the asseth are building, $408,000; land, $289,000; land inprovemenis, \$42,500; and four vehicies, $110,500. The company's financial year ends on December 31 . Compute the depreciation expense for year 2021 on the tand improvements assuming a five-year life and double-deciling baiance preciation