Jepreclatlon is recorded annually on tne stralgnt llne oasls at tne end or tne nscal year :i.e., no depreciation expense has been recorded yet for the year ended June 30, 2016). Fhe company owns one building which has a useful life of 30 years and is assumed to Iaye a $200,000 salyage yalue. Furniture and equipment are assumed to haye a useful ife of 10 years with no salyage yalue