Question 4 Victor Mineli, the new controller of Carla Vista Co., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings Useful Life (in years) Accumulated Depreciation, Salvage Value Type of Asset Date Acquired Jan. 1,2017 OldProposed OldProposed 48 20 Cost Building Jan. 1,2009 $979,500 183,300 40 $63,000 37,100 Warehouse Jan. 1,2012 151,500 29,290 25 5,050 4,600 All assets are depreciated by the straight-line method. Carla Vista Co. uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, not remaining life.) Compute the revised annual depreciation on each asset in 2017. (Round answers to 0 decimal places, e.s. 125.) Building Warehouse Revised annual depreciation $ eTextbook and Media List of Accounts Prepare the entry to record depreciation on the building in 2017. (Round answers to 0 decimal places, e-g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter 0 for the amounts.) Account Titles and Explanation Debit Credit