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Victor Mineli, the new controller of Cullumber Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of

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Victor Mineli, the new controller of Cullumber 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 Useful Life (in years) Depreciation Jan. 1, 2022 Old Proposed Cost Salvage Value Old Proposed $70,000 $36,600 6,050 4,400 Building Jan 1, 2014 $984,500 $182.900 40 58 Warehouse Jan 1, 2017 168,500 32.490 25 20 All assets are depreciated by the straight-line method. Cullumber 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.) (a) Compute the revised annual depreciation on each asset in 2022. (Round answers to decimal places, eg. 125.) Building Warehouse Revised annual depreciation $ e Textbook and Media

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