Revision of Depreciation Equipment with a cost of $604,400 has an estimated residual value of $59,900, has an estimated useful life of 45 years, and is depreciated by the straight-line method. a. Determine the amount of the annual depreciation. b. Determine the book value after 24 full years of use. C. Assuming that at the start of the year 25 the remaining life is estimated to be 24 years and the residual value is estimated to be $54,800, determine the depreciation expense for each of the remaining 24 years. Sale of Equipment Equipment was acquired at the beginning of the year at a cost of $36,500. The equipment was depreciated using the double-declining-balance method based on an estimated useful life of ten years and an estimated residual value of $710. a. What was the depreciation for the first year? b. Assuming the equipment was sold at the end of year 2 for $8,990, determine the gain or loss on the sale of the equipment. C. Journalize the entry to record the sale. If an amount box does not require an entry, leave it blank. Depletion Down Deep Mining Co. acquired mineral rights for $60,000,000. The mineral deposit is estimated at 75,000,000 tons. During the current year, 16,500,000 tons were mined and sold. a. Determine the depletion rate. If required, round your answer to two decimal places. $ per ton b. Determine the amount of depletion expense for the current year. C. Journalize the adjusting entry on December 31 to recognize the depletion expense. If an amount box does not require an entry, leave it blank. Dec. 31