Charles Geary, the controller of Sunland Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Useful Life (in Years) Salvage Value Type of Asset Date Acquired Accumulated Depreciation, Jan. 1, 2022 Old Proposed Old Proposed Cost Building Warehouse Jan. 1, 2014 $2,720,000 Jan. 1, 2017 261,000 $545,600 63,000 40 25 50 20 $136,000 13,000 $87,000 6,000 All assets are depreciated by the straight-line method. Sunland Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Charles's proposed changes. (The "Proposed" useful life is total life, not remaining life.) Compute the revised annual depreciation on each asset in 2022. Type of Asset Building Warehouse Revised annual depreciation $ Compute the revised annual depreciation on each asset in 2022. 45:11 Hide Timer Type of Asset Building Warehouse Revised annual depreciation $ Prepare the entry (or entries) to record depreciation on the building in 2022. (Credit account titles are automatically indented when the amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter o for the amounts.) Date Account Titles and Explanation Debit Credit Dec. 31