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Victor Mineli, the new controller of Oriole 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 Oriole Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings: Type of Date Acquired Jan. 1.2009 Jan 1, 2012 Asset Building Warehouse Cost $975,500 125,000 Accumulated Depreciation Jan 1, 2017 $183,700 23.960 Useful Life (in years) Old Proposed 40 48 25 20 Salvage Value Old Proposed $57,000 $35,300 5,200 4,900 All assets are depreciated by the straight-line method. Oriole 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.) Compute the revised annual depreciation on each asset in 2017. (Round answers to decimal places eg. 125.) Building Warehouse Revised annual depreciation $

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