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Type of Asset Date Acquired Cost Total Useful Life in Years Residual Value Current Proposed Current Proposed Building Jan. 1, 2009 $800,200 20 30 $39,800
Type of Asset Date Acquired Cost Total Useful Life in Years Residual Value Current Proposed Current Proposed Building Jan. 1, 2009 $800,200 20 30 $39,800 $60,220 Equipment Jan. 1, 2022 125,410 5 4 4,780 3,690 After discussion, management agrees to accept Lindy's proposed changes. All assets are depreciated by the straight-line method. Wildhorse Company has a December 31 year end.For each asset, calculate the annual depreciation expense using the original estimated useful life and residual value. Building Annual depreciation expense $ per year Equipment $ per year
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