These expenditures were incurred by McCoy Company in purchasing land: cash price $50,000, assumed accrued taxes $3,000, attorneys' fees $2,500, real estate broker's commission $2,000, and clearing and grading $3,500. What is the cost of the land? Cost of the land $ $ Rich Castillo Company incurs the following expenditures in purchasing a truck: cash price $30,000, accident insurance (during use) $2,000, sales taxes $2,100, motor vehicle license $100, and painting and lettering $400. What is the cost of the truck? Cost of the truck $ Corales Company acquires a delivery truck at a cost of $38,000 on January 1, 2022. The truck is expected to have a salvage value of $6,000 at the end of its 4-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method. Year 1 Year 2 Annual depreciation expense $ $ On January 1, 2022, the Morgantown Company ledger shows Equipment $32,000 and Accumulated Depreciation $9,000. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,000. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same salvage value. Compute the revised annual depreciation. Revised annual depreciation $ In a recent annual report, Target reported beginning total assets of $44.1 billion, ending total assets of $44.5 billion, and net sales of $63.4 billion. Compute Target's asset turnover ratio. (Round answer to 2 decimal places, e.g. 5.60.) Target's asset turnover ratio times During 2022, Paola Corporation reported net sales of $3,500,000 and net income of $1,500,000. Its balance sheet reported average total assets of $1,400,000. Calculate the asset turnover. (Round answer to 2 decimal places, eg. 1.25.) Asset turnover times