Thomas Geary, the controller of Sandhill Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Useful Life (in Years) Salvage Value Old Accumulated Depreciation Jan. 1.2022 Proposed Old Proposed Type of Asset Date Acquired Cost $2.702.000 Jan 1, 2014 $529,000 40 Building 50 $141.000 $94,000 25 47.000 20 30,000 Warehouse 242.000 7,500 Jan. 1. 2017 All assets are depreciated by the straight-line method. Sandhill Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Thomas's proposed changes. (The "Proposed" useful life is total life, not remaining life) All assets are depreciated by the straight-line method. Sandhill Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Thomas's proposed changes. (The "Proposed" useful life is totallite, not remaining life.) (a) Compute the revised annual depreciation on each asset in 2022 Type of Asset Building Warehouse $ $ Revised annual depreciation e Textbook and Media Attempts: 0 of 1 used Submit Answer save forlater