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Revision of Depreciation A building with a cost of $247,500 has an estimated residual value of $49,500, has an estimated useful life of 9 years,

Revision of Depreciation

A building with a cost of $247,500 has an estimated residual value of $49,500, has an estimated useful life of 9 years, and is depreciated by the straight-line method.

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

b. What is the book value at the end of the fifth year of use? $fill in the blank 2

c. If at the start of the sixth year it is estimated that the remaining life is 5 years and that the residual value is $12,500, what is the depreciation expense for each of the remaining 5 years? $fill in the blank 3

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