Obj. 2 A building with a cost of $1,200,000 has an estimated residual value of $250,000, 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-eighth year of use? (C) If at the start of
the twenty-ninth year it is estimated that the remaining life is 10 years and that the
residual value is $180,000, what is the depreciation expense for each of the
remaining 10 years?