Lindy Weink, the new controller of Wildhorse Company, has reviewed the expected useful lives and residual values of selected depreciable assets at December 31, 2024. (Depreciation for 2024 has not been recorded yet.) Her findings are as follows: Total Useful Life in Years Residual Value Type of Asset Building Date Acquired Jan. 1, 2009 Cost Current Proposed Current Proposed $800,200 20 30 $39,800 $60,220 Equipment Jan. 1, 2022 125,410 5 4,780 3,690 After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method. Wildhorse Company has a December 31 year end. (b) Calculate the carrying amount of each asset as at January 1, 2024. Building Equipment $ Carrying amount