Exercise 9-07 Victor Mineli, the new controller of Blossom Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Type of Date Acquired Jan. 1, 2014 Jan 1, 2017 Accumulated Depreciation, Jan. 1, 2022 $129,900 22,100 Cost $700,000 115,000 Useful Life (in years) Old Proposed 40 25 2 0 Salvage Value Old Proposed $50,500 $35,100 4,500 2,900 Building Warehouse 58 All assets are depreciated by the straight-line method. Blossom 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 total life, not remaining life.) Compute the revised annual depreciation on each asset in 2022. (Round answers to 0 decimal places, e.g. 125.) Building Warehouse Revised annual depreciations SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO Prepare the entry to record depreciation on the building in 2022. (Round answers to o 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 Click if you would like to Show Work for this question: Open Show Work SHOW LIST OF ACCOUNTS LINK TO TEXT LINK TO VIDEO