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Victor Mineli, the new controller of Sandhill Co., 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 Sandhill Co., has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Useful Life (in years) Salvage Value Type of Asset Date Acquired Accumulated Depreciation, Jan. 1, 2022 Cost Old Proposed Old Proposed Building Jan. 1, 2014 $908,000 58 $65,500 $36,600 $168,500 29,680 40 25 Warehouse Jan 1, 2017 153,000 2 0 4,600 5,420 All assets are depreciated by the straight-line method. Sandhill Co. 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 partially correct. Compute the revised annual depreciation on each asset in 2022. (Round answers to 0 decimal places, e.g. 125.) Building Warehouse Revised annual depreciation $ 17572.5 7860

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