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

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Victor Mineli, the new controller of Monty Corp., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Date Accumulated Depreciation Useful life (in years) Salvage Value Type of Asset Building Acquired Cost Jan. 1, 2022 Old Proposed Old Proposed Warehouse Jan. 1, 2014 Jan. 1, 2017 $804,000 $152,800 40 58 $40,000 $51,200 114,000 21,880 25 20 4,600 29,120 All assets are depreciated by the straight-line method. Monty 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.) Compute the revised annual depreciation on each asset in 2022. Building Revised annual depreciation $ Warehouse

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