4 of 6 View Policies Current Attempt in Progress Terry Wade, the new controller of Culver Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Type of Asset Date Acquired Cost Accumulated Depreciation Jan. 1, 2022 Useful life (in Years) Salvage Value Old Proposed Old Proposed Building Jan. 1, 2016 $810,000 $114,900 40 50 $44,000 $43,900 Warehouse Jan. 1, 2017 110,000 21,180 25 20 4,100 13,820 All assets are depreciated by the straight-line method. Culver Company uses a calendar year in preparing annual adjusting entries and financial statements. After discussion, management has agreed to accept Terry's proposed changes. (The "Proposed" useful life is total l