True Dough Systems Inc. (TDS) is a commercial marijuana producer in Perth, Ontario. TDS recently expanded its operation by constructing a new greenhouse building. The building is expected to have a useful life of 20 years and a residual value of $50,000. Building construction began on January 1, 2020, and was completed on August 1, 2020. Costs incurred during the construction of the building were as follows: January 1, 2020 $520,000 February 1, 2020 $360,000 April 30, 2020 $200,000 August 1, 2020 $350,000 Other capital asset information related to the new building is as follows: Estimated fair Installation costs Asset Lighting system Air filtration system Irrigation system value* $250,000 $200,000 $150,000 Residual incurred Useful life $26,000 10 years value $14,000 $33,000 15 years $12,500 10 years $20,000 The lighting, air filtration, and irrigation systems were purchased as a package deal for $500,000. The estimated fair value of each system is indicated as if each system was purchased separately. Installation costs were incurred separately. TDS had the following borrowings during 2020: A building construction loan of $500,000 at 7% was taken out on January 1, 2020, and repaid on September 1, 2020. A bank loan of $2,000,000 with interest of 8% was outstanding for the entire 2020 year. Bonds payable of $6,000,000 (at par), with an effective annual interest rate of 4%, were also outstanding the entire year. TDS has a December 31 year end, reports using IFRS, and uses the straight-line method of depreciation. All of the assets were put into use on August 1, 2020.