Straight-Line Depreciation A building acquired at the beginning of the year at a cost of $156,000 has an estimated residual value of $6,000 and an estimated useful life of 10 years, Determine the following: (a) The depreciable cost (b) The straight-line rate % (c) The annual straight-line depreciation Units-of-activity Depreciation A truck acquired at a cost of $385,000 has an estimated residual value of $21,700, has an estimated useful life of 42,000 miles, and was driven 3,400 miles during the year. Determine the following. If required, round your answer for the depreciation rate to two decimal places. (a) The depreciable cost (b) The depreciation rate per mile (c) The units-of-activity depreciation for the year Double-Declining-Balance Depreciation A building acquired at the beginning of the year at a cost of $60,400 has an estimated residual value of $2,400 and an estimated useful life of four years. Determine the following. (a) The double-declining-balance rate (b) The double-declining balance depreciation for the first year Capital and Revenue Expenditures On April 29, Welllington Co. paid $1,730 to install a hydraulic lift and $43 for an air filter for one of its delivery trucks Journalize the entries for the new lift. April 29 Journalize the entry for air filter expenditures. April 29 Sale of Equipment Equipment was acquired at the beginning of the year at a cost of $650,000. The equipment was depreciated using the straight-line method based on an estimated useful life of 9 years and an estimated residual value of $40,860. a. What was the depreciation for the first year? Round your answer to the nearest cent. b. Using the rounded amount from Part a in your computation, determine the gain(loss) on the sale of the equipment, assuming it was sold at the end of year eight for $103,832. Round your answer to the nearest cent and enter as a positive amount