RCES Exercise 9-8 (Part Level Submission) ve Terry Wade, the new controller of Hellickson Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. His findings are as follows. Accumulated Depreciation Useful life in Years Date Salvage Value Cost 7 Old Proposeda Type of Asset AequiredCost Building 1/1/11 828,000 $118,950 40 Warehouse 1/1/12 120,000 23,160 25 1/1/17 Old Proposed Old Proposed 50 $35,000 $88,650 20 4,200 21,840 All assets are depreciated by the straight-line method. Hellickson Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Terry's proposed changes