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28) When originally purchased, a vehicle costing $26.460 had an estimated useful life of 8...

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28) When originally purchased, a vehicle costing $26.460 had an estimated useful life of 8 years and an estimated salvage value of $3500. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage value. The depreciation expense in year 5 equals: A) S3038.00. B) $11,480.00. C) $5908.00. D) $5740.00 E) $2870.00. 29) Lima Enterprises purchased a depreciable asset for $29.000 on April 1, Year 1. The asset will be depreciated using the straight-line method over its four-year useful life. Assuming the asset's salvage value is $3400, what will be the amount of accumulated depreciation on this asset on December 31, Year 3? A) $25,600 B) $17,600 C) $5333.33 D) $21,333.3333 E) $6400 30) A company purchased property for $100,000. The property included a building, a parking lot, and ding was appraised at $62,000; the land at $45,000, and the parking lot at $18,000. Land should be recorded in the accounting records with an allocated cost of: A) $36,000. B) SO. C) $42,000. D) $45,000. E) $100,000

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