XYZ Inc. has a building it purchased for $420,000. It is estimated the building has a useful life of 25 years and zero residual value. The building has three major components. XYZ uses the straight-line method of depreciation. Component Unit Cost Useful Life A $ 84,000 5 years B $ 126,000 10 years C $ 210,000 25 years

Required: 1-a. What is the amount of depreciation in year one? Use a separate accumulated depreciation account for each component. 1-b. Provide the journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

2-a. What is the value of component A at the end of the fourth year? 2-b. The new major spare part had a cost of $104,000. Provide the journal entry. (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)