timberly construction makes a lump sum purchase of several assets on Jan. 1 at a total cash price of 840,000. the estimated market value of the purchase assets are building 530,000 land 280,000 land improvements 60,000 and 4 vehicles 130,000. allocate the lump sum purchase price to the separate assets purchased and prepare the journal entry to record the purchase. compute the first year depreciation expense on the building using the straight-line method assuming a 15 year life and a 32000 salvage value. compute the first year depreciation expense on the land improvements assuming a five year life and double declining balance depreciation.

compared to straightline depreciation does accelerated depreciation result in payment of less total over the assets life?