A building with a cost of 780000 has an estimated residual, Financial Accounting

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A building with a cost of 780000 has an estimated residual

A building with a cost of $780,000 has an estimated residual value of $90,000, has an estimated useful life of 40 years, and is depreciated by the straight-line method.

a. What is the amount of the annual depreciation?

b. What is the book value at the end of the twenty-fourth year of use?

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Financial Accounting: A building with a cost of 780000 has an estimated residual

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Financial Accounting: A building with a cost of 780000 has an estimated residual

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