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 2022. Here are his findings: Type of Asset Building Warehouse Date Acquired Jan. 1, 2014 Jan. 1, 2017 Cost Revised annual depreciation $800,500 117,000 Accumulated Depreciation, Jan. 1, 2022 $147,300 22,440 Building Useful Life (in years) 12862.5 Old 40 25 Proposed 48 20 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.) Compute the revised annual depreciation on each asset in 2022. (Round answers to O decimal places, eg. 5,275.) Warehouse Salvage Value Old $64,000 4,800 4500 Proposed $35,800 4,560

Victor Minell, the new controller of Pharoah Company, has reviewed the expected useful tives and salvage values of selected depreciable assets at the beginning of 2022 . Here are his findings: All assets are depreciated by the straight-line method. Pharoah Company uses a calendar year in preparing annual financial statements. Nfter discusuion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, not remainine Life) Compute the revised annual depreciation on each asset in 2022. (Round answers to 0 dncimal ploces, 585,275 )