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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

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 2025. Here are his findings: Type of Asset Date Acquired Cost Accumulated Depreciation, Jan. 1, 2025 Useful Life (in years) Salvage Value Old Proposed Old Proposed Building Warehouse Jan. 1, 2017 $728,500 $134,200 40 58 $57,500 $36,100 Jan. 1, 2020 161,500 31,200 25 20 5,500 5,800 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 2025. (Round answers to O decimal places, e.g. 125.) Building Revised annual depreciation $ Warehouse

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