In 1993, Kingbird Company completed the construction of a building at a cost of $2,420,000 and first occupied it in January 1994. It was estimated that the building will have a useful life of 40 years and a salvage value of $72,800 at the end of that time. Early in 2004, an addition to the building was constructed at a cost of $605,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $24,200. In 2022, it is determined that the probable life of the building and addition will extend to the end of 2053, or 20 years beyond the original estimate.

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Compute the annual depreciation to be charged, beginning with 2022. (Round answer to 0 decimal places, e.g. 45,892.)

Annual depreciation expensebuilding

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al Your answer is correct. Using the straight-line method, compute the annual depreciation that would have been charged from 1994 through 2003. Annual depreciation from 1994 through 2003 $ 58680 /yr. e Textbook and Media List of Accounts Attempts: 2 of 5 used Question Part Score 3/3 (b) Your answer is correct. Compute the annual depreciation that would have been charged from 2004 through 2022. Annual depreciation from 2004 through 2021 $ 78040 yr