Calculate revised depreciation. E9.9 (LO 3) AP Lindy Weink, the new controller of Lafrenire Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2024. (Depreciation for 2024 has not been recorded yet.) Her findings are as follows: Total Useful Life in Years Residual Value Type of Asset Date Acquired Cost Current Proposed Current Proposed Building Jan. 1, 2009 $800,000 20 30 $40,000 $60,500 Equipment Jan. 1, 2022 125,000 5 4 5,000 4,000 After discussion, management agrees to accept Lindys proposed changes. All assets are depreciated by the straight-line method. Lafrenire Company has a December 31 year end. Instructions For each asset, calculate the annual depreciation expense using the original estimated useful life and residual value. Calculate the carrying amount of each asset as at January 1, 2024. For each asset, calculate the revised annual depreciation expense and the carrying amount at December 31, 2024.