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The following information is available for Polly Ester Fabrics, which has an accounting year-end of December 31. 1. A truck was purchased on September

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The following information is available for Polly Ester Fabrics, which has an accounting year-end of December 31. 1. A truck was purchased on September 1, 2021, for $102,000. It is estimated to have an $12,000 salvage value at the end of its 12-year useful life. It estimated the truck could drive for 150,000 miles. In 2021 and 2022, the truck was driven 6,500 and 18,000 miles, respectively. The units- of-activity method of depreciation is being used. 2. On October 1, 2021, it purchased land for $32,000. Because the land was conveniently located next to the interstate, it was estimated to have a useful life of 30 years. Polly Ester Fabrics would use straight-line depreciation, if applicable. 3. When it purchased the land, it came with a warehouse. The cost of the warehouse was $168,000. It was estimated to have a salvage value of $42,000, and a useful life of 20 years. Double-declining balance is being used. 4. Fabric-making machinery was purchased on April 1, 2022, for $56,000. 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: Truck: $3,900 Land: $0 (because it was only purchased on October 1, 2021) Warehouse: $4,300 Fabric-making machinery: $0 (because it was not purchased until April 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 fixed asset as of December 31, 2022? (Make sure to list each asset separately.) (3 points)

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