Twin-Cities, Inc., purchased a building for $600,000. Straight-line depreciation was used for each of the first two years using the following assumptions: 25-year estimated useful life with a residual value of $100,000 a. Calculate the annual depreciation for the first two years that Twin Cities owned the building. b. Calculate the book value of the building at the end of the second year. Complete this question by entering your answers in the tabs below. Required Required B Calculate the annual depreciation for the first two years that Twin Cities owned the building, Year 1 Year 2 Annual depreciation Required A Required B Twin Cities, Inc., purchased a building for $600,000. Straight-line depreciation was used for each of the first two years using the following assumptions: 25-year estimated useful life, with a residual value of $100,000. a. Calculate the annual depreciation for the first two years that Twin-Cities owned the building. b. Calculate the book value of the building at the end of the second year. Complete this question by entering your answers in the tabs below. Required A Required B Calculate the book value of the building at the end of the second year. Book value