Time remaining: 0:45:27 7 Salem Company buys a building for $1,000,000 on 1st January 2018. Its estimated useful life in the business is 20 years, after which it will be sold for an estimated residual value of $200,000. Under the Straight-line method of depreciation, Accumulated depreciation at December 31,2020, will be: $40,000 $120,000 $80,000. $160,000