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View Policies Show Attempt History Current Attempt in Progress In its first year of business, Bonita purchased land, a building, and equipment on March 5

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In its first year of business, Bonita purchased land, a building, and equipment on March 5,2023, for $624,000 in total. The land was valued at $258,492, the building at $338,028, and the equipment at $66,280. Additional information on the deciable assets follows:
\table[[Asset,Residual Value,Useful Life in Years,Depreciation Method],[Building,$24,840,60,Straight-line],[Equipment,5,000,8,Double diminishing-balance]]
(a)
(b1)
Bonita has a December 31 fiscal year end and is trying to decide how to calculate depreciation for assets purchased during the year.
Calculate depreciation expense for the building and equipment for 2023 and 2024 assuming depreciation is calculated to the nearest month. (Round answers to 0 decimal places, es.5,275.)
\table[[,2023,2024],[Building,$,$
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