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Revision of depreciation A building with a cost of $2,200,000 has an estimated residual value of $85,000, has an estimated useful life of 40 years,

Revision of depreciation

A building with a cost of $2,200,000 has an estimated residual value of $85,000, has an estimated useful life of 40 years, and is depreciated by the straight-line method.

a. What is the amount of the annual depreciation? fill in the blank 1 of 1$

b. What is the book value at the end of the twenty-eighth year of use? fill in the blank 1 of 1$

c. If at the start of the twenty-ninth year it is estimated that the remaining life is 5 years and that the residual value is $60,000, what is the depreciation expense for each of the remaining 5 years?

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