4.Steve White the new controller of Weinberg Company, has reviewed the expected useful lives and residual values of selected depreciable assets at the beginning of 2020. His findings are as follows. Useful Life in Years Residual Value Accumulated Depreciation 1/1/20 Date Acquired Cost -Type of Asset Building Warehouse 1/1/14 1/1/15 $1,600,000 207,000 $228,000 40,000 Old Proposed 40 50 25 20 Old Proposed $80,000 $52,000 7,000 5,000 All assets are depreciated by the straight-line method. Weinberg Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Steve's proposed changes. Instructions Compute the revised annual depreciation on each asset in 2020. (Show computations.)