Calculate carrying amount

Lindy Weink, the new controller of Crane Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2021. (Depreciation for 2021 has not been recorded yet.) Her findings are as follows: Cost Type of Asset Building Equipment Date Acquired Jan. 1, 2006 Jan. 1, 2019 Total Useful Life in Years Current Proposed 20 30 Residual Value Current Proposed $39,700 $60,270 4,840 3,500 $800,400 125,470 5 4 After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method. Crane Company has a December 31 year end. For each asset, calculate the annual depreciation expense using the original estimated useful life and residual value. Annual depreciation expense Building $ 38035 per year Equipment $ 24126 per year