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In 1998, Crane Company completed the construction of a building at a cost of $2,025,000 and first occupied it in January 1999 . It was

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In 1998, Crane Company completed the construction of a building at a cost of $2,025,000 and first occupied it in January 1999 . It was estimated that the building will have a useful life of 40 years and a salvage value of $60,000 at the end of that time. Early in 2009, an addition to the building was constructed at a cost of $505,000. 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 $20,250 In 2027, it is determined that the probable life of the building and addition will extend to the end of 2058 , or 20 years beyond the original estimate. (a) Your answer is correct. Using the straight-line method, compute the annual depreciation that would have been charged from 1999 through 2008. Annual depreciation from 1999 through 2008$/yr. eTextbook and Media List of Accounts Attempts: unlimited (b) Compute the annual depreciation that would have been charged from 2009 through 2026. Annual depreciation from 2009 through 2026 Prepare the entry, if necessary, to adjust the account balances because of the revision of the estimated life in 2027. (If no entry is required, select "No entry" for the account titles and enter O for the amounts. Credit account titles are automatically indented when amount is entered. Do not indent manually, List debit entry before credit entry.) eTextbook and Media List of Accounts Attempts: unlimited (d) Your answer is incorrect. Compute the annual depreciation to be charged, beginning with 2027. (Round answer to 0 decimal places, es. 45,892.) Annual depreciation expense-building

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