In 1993, Concord Company completed the construction of a building at a cost of $2,100,000and first occupied it in January 1994. It was estimated that the building will have a useful life of40years and a salvage value of $63,200at the end of that time.

Early in 2004, an addition to the building was constructed at a cost of $525,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional30years, and that the addition would have a life of30years and a salvage value of $21,000.

In 2022, it is determined that the probable life of the building and addition will extend to the end of 2053, or20years beyond the original estimate.

Compute the annual depreciation to be charged, beginning with 2022.