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The XYZ Company bought a piece of land for $2,500,000 and a building for $700,000...

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Accounting

The XYZ Company bought a piece of land for $2,500,000 and a building for $700,000 on July 1,2015. XYZ determines a 20-year life and no residual value on the building. The company uses straight-line depreciation for all of its depreciable assets. How much is depreciation expense on land for 2015?A. $12,500B. $17,500C. Cannot determine because there is not enough informationD. None of the above

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