Victor Mineli, the new controller of Crane Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings Type of Asset Date Acquired Accumulated Depreciation. Useful Life (in years) Salvage Value Cost Jan. 1,2022 Old Proposed Old Proposed Building Warehouse Jan. 1. 2014 $772.000 $141.800 40 58 $63.000 $35,200 Jan. 1. 2017 164.000 31.690 25 20 5.550 4.810 All assets are depreciated by the straight-line method. Crane Company uses a calendar year in preparing annual financial statements After discussion, management has agreed to accept Victor's proposed changes (The Proposed useful life is total life, not remaining life)