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Question 1: On January 1, 2010, Antelope Ltd. purchased a building for $800,000. At this time, the building had an estimated residual value of $300,000 and an estimated useful life of 20 years. The company has recorded monthly depreciation using the straight-line method. On January 1, 2020, it is decided to put the building up for sale for $1,200,000. At December 31, 2020, the building is still for sale. The correct depreciation to record for 2020 is
Option 1: $0.
Option 2: $25,000.
Option 3: $40,000.
Option 4: $60,000.
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