Victor Mineli, the new controller of Sheridan Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Accumulated Useful Life (in years) Salvage Value Type of Asset Building Warehouse Date: Acquired Depreciation, Cost Jan. 1, 2022 Old Proposed Old Proposed Jan. 1, 2014 $806,000 $149,200 40 58 $60,000 $36,800 Jan. 1, 2017 150,500 28.820 25 20 6,400 4,200 All assets are depreciated by the straight-line method. Sheridan 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.)