Terry Wade, the new controller of Bramble Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Date Accumulated Depreciation Useful life (in Years) Salvage Value Type of Asset Building Acquired Cost Jan. 1, 2022 Old Proposed Old Proposed Jan. 1, 2016 $824,000 $117,600 40 50 $40,000 $64,000 Warehouse Jan. 1, 2017 107,000 20,540 25 20 4,300 12,960 All assets are depreciated by the straight-line method. Bramble Company uses a calendar year in preparing annual adjusting entries and financial statements. After discussion, management has agreed to accept Terry's proposed changes. (The "Proposed" useful life is total life, not remaining life.) Compute the revised annual depreciation on each asset in 2022. (b) Revised annual depreciation eTextbook and Media List of Accounts Save for Later Building Warehouse Attempts: 0 of 5 used Submit Answer Prepare the entry to record depreciation on the building in 2022. (List all debit entries before credit entries. 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 O for the amounts.) Date Account Titles and Explanation Dec. 31 T Debit Credit