Exercise 9-08 a-b (Video) (Part Level Submission) Terry Wade, the new controller of Windsor, Inc., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2020. His findings are as follows. Useful life in Years Date Cost Old Accumulated Depreciation 1/1/20 $116,700 22,180 Type of Asset Building Warehouse Proposed Acquired 1/1/14 1/1/15 Salvage Value Old Proposed $43,000 $57,500 4,100 20,820 40 50 $821,000 115,000 25 20 All assets are depreciated by the straight-line method. Windsor, Inc. uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Terry's proposed changes. (a) Compute the revised annual depreciation on each asset in 2020. Building Warehouse Revised annual depreciation $ Click if you would like to Show Work for this question: Open Show Work