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The following information is available for Pane in the Glass, which has an accounting year-end of December 31. 1. Atruck was purchased on July 1,

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The following information is available for Pane in the Glass, which has an accounting year-end of December 31. 1. Atruck was purchased on July 1, 2021, for $86,000. It is estimated to have an $11,000 salvage value at the end of its 8-year useful life. It estimated the truck could drive for 100,000 miles. In 2021 and 2022, the truck was driven 12,500 and 19,000 miles, respectively. The units-of- activity method of depreciation is being used. 2. On September 1, 2021, it purchased land for $52,000. Because the land was conveniently located next to the interstate, it was estimated to have a useful life of 40 years. Pane in the Glass would use straight-line depreciation, if applicable. 3. When it purchased the land, it came with a manufacturing building. The cost of the manufacturing building was $296,000. It was estimated to have a salvage value of $16,000, and a useful life of 20 years. Double-declining balance is being used. 4. Windowmaking machinery was purchased on March 1, 2022, for $34,000. It was estimated to have a $6,000 salvage value at the end of its 10-year useful life. Straight-line depreciation is being used. Accumulated depreciation as of January 1, 2022 is as follows: a Truck: $9,375 a Land: $0 (because it was only purchased on September 1, 2021) o Manufacturing Building: $9,867 - Window-making machinery: $0 (because it was not purchased until March 1, 2022) QUESTIONS: 1. For each asset, what is its depreciation expense for the year ending December 31, 2022? (Make sure to list each asset separately.) (6 points) 2. What is the net book value of each xed asset as of December 31, 2022? (Remember, net book value equals original cost minus accumulated depreciation.) (Make sure to list each asset separately.) (3 points) SPECIFIC lNSTRUCTlONS: a Round all answers to the nearest dollar

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