Exercise 9-07 Victor Mineli, the new controller of Pharoah Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Accumulated Useful Life (in Type of Date Depreciation, years) Salvage Value Asset Acquired Cost Jan. 1, 2022 Old Proposed Old Proposed Building Jan 1, 2014 $800,500 $147,300 40 58 $64,000 $35,800 Warehouse Jan 1, 2017 117,000 22,440 25 20 4,800 4,560 All assets are depreciated by the straight-line method. Pharoah 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 totallfe, not remaining life.) xx Your answer is incorrect. Try again. Compute the revised annual depreciation on each asset in 2022. (Round answers to o decimal places, e.g. 125.) Building Revised annual depreciation 13,184 5,622 Warehouse LINK TO TEXT LINK TO VIDEO