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  3. wk 3 hw 7 on march 31, 2021. susquehanna insur

wk 3 HW 7 On March 31, 2021. Susquehanna Insurance purchased...

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Accounting

wk 3 HW

7

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On March 31, 2021. Susquehanna Insurance purchased an office building for $13,200,000. Based on their relative fair values, one-third of the purchase price was allocated to the land and two-thirds to the building. Furniture and fixtures were purchased separately from office equipment on the same date for $1,400,000 and $900,000, respectively. The company uses the straight-line method to depreciate its buildings and the double-declining-balance method to depreciate all other depreciable assets. The estimated useful lives and residual values of these assets are as follows: Requlred: Calculate depreciation for 2021 and 2022 . (Do not round Intermedlete calculetions.)

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