S NWP Assessment Player UL ADX 3 NWP Assessment Player UI AL X + sessment-player/index.html?launchid=54f8c588-597a-4614-Ba20-cf60bd8b4ac1#/question/3 Question 4 of 9 - / 10 Current Attempt in Progress Victor Mineli, the new controller of Novak Corp., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Date Useful life (in years) Old Proposed 40 58 Type of Asset Building Warehouse Acquired Jan 1, 2014 Jan. 1. 2017 Accumulated Depreciation Jan. 1, 2022 $157,200 20,380 Cost $821,000 106.000 Salvage Value Old Proposed $35.000 $53,800 4,100 21,120 25 20 All assets are depreciated by the straight-line method. Novak Corp. uses a calendar year in preparing annual adjusting entries and financial statements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, not remaining life.) (a) Compute the revised annual depreciation on each asset in 2022. Building Warehouse $ $ Revised annual depreciation Attempts: 0 of 2 used Submit Answer Save for Later (b) The parts of this question must be completed in order. This part will be available when you complete the part above