Current Attempt in Progress Victor Mineli, the new controller of Crane 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 1 Cost Old Proposed Old Proposed Building Jan. 1. 2014 $869,500 $162.800 40 58 $55,500 $36,900 Warehouse Jan. 1. 2017 149.000 28.750 25 20 5.250 3,400 All assets are depreciated by the straight-line method. Crane Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The Proposed" useful life is totallife, not remaining life.) Your answer is incorrect. Compute the revised annual depreciation on each asset in 2022. (Round answers to O decimal places, e.g. 125.) Building Warehouse Revised annual depreciation $ $ | Your answer is partially correct. Prepare the entry to record depreciation on the building in 2022. (Round answers to 0 decimal places, e.g. 125. Credit account titles are automatically indented when 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.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation-Buildings c Textbook and Media List of Accounts Save for Later Attempts: 1 of 3 used Submit