Victor Mineli, the new controller of Pharoah 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 Useful Life (in years) Salvage Value Date Acquired Jan. 1, 2009 Asset Building Old Accumulated Depreciation, Jan. 1, 2017 $134,200 Proposed Cost $728,500 Old $57,500 Proposed $36,100 40 48 Warehouse Jan. 1, 2012 161,500 31,200 25 20 5,500 5,100 All assets are depreciated by the straight-line method. Pharoah 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.) Your answer is incorrect. Compute the revised annual depreciation on each asset in 2017. (Round answers to decimal places, eg. 125.) Building Warehouse Revised annual depreciation $ eTextbook and Media List of Accounts Your answer is partially correct. Prepare the entry to record depreciation on the building in 2017. (Round answers to decimal places, e.g. 125. Credit account titles are automatically indented when amount is entered. Do not indent manually. If no entry is required, select "No Entry" for the account titles and enter for the amounts.) Account Titles and Explanation Debit Credit Depreciation Expense Accumulated Depreciation Buildings