Steven Smith, the controller of Sheridan Office Supply Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2028. Here are his findings: Accumulated Useful Life (in Years) Salvage Value Type of Asset Date: Acquired Depreciation, Cost Jan. 1, 2028 Old Proposed Old Proposed Building Jan. 1,2020 $2,780,000 $528,800 40 50 $136,000 $80,850 Warehouse Jan. 1, 2023 272,000 52,240 25 20 10,800 8,305 All assets are depreciated by the straight-line method. Sheridan Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Steven's proposed changes. (The "Proposed" useful life is total life. not remaining life.) (a) Compute the revised annual depreciation on each asset in 2028. Building Type of Asset Warehouse