tice Exercises Question 1 of 2 0/1 VIEWTONCIES Show Attempt History Current Attempt in Progress Kingbird Industries Inc. started construction of a manufacturing facility for its own use at an estimated cost of $9,600,000 on January 1, 2017. Kingbird expected to complete the building by December 31, 2017. Kingbird's debt, all of which was outstanding during the construction period, was as follows. . 1 Construction loan-11% interest, payable semiannually, issued December 31, 2016; $4,800,000 Long-term loan #1 - 10% interest, payable on January 1 of each year. Principal payable on January 1, 2019, $1.440,000 Long-term loan #212% interest, payable on December 31 of each year. Principal payable on December 31, 2025: $3,360,000 (a) Your Answer Correct Answer (Used) a e atv AY NA 28 MacBook Pro uestion 1 of 2 071 20% score reduction after attempt 1 (b) Compute the depreciation expense for the year ended December 31, 2018. Kingbird estimated the facility's useful life to be 25 years with a salvage value of $960,000. Kingbird elected to depreciate the facility on a straight-line basis. Depreciation Expense $ eTextbook and Media Attempts: 0 of 2 used Submit Answer Save for Later Using multiple attempts will impact your score. 20% score reduction after attempt 1 28 tv A MESS MacBook Pro