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: Useful Life (in years) Salvage Value Type of Asset Date Acquired Cost Accumulated Depreciation, Jan. 1,2022 $170,400 22,340 Building Jan 1, 2014 $922,000 Warehouse Jan 1, 2017 118,000 Old 40 25 Proposed 5 8 20 Old $70,000 6,300 Proposed $35,400 2,660 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.) x Your answer is incorrect. Compute the revised annual depreciation on each asset in 2022. (Round answers to decimal places, eg. 125.) Building Warehouse Revised annual depreciation $ 17040 3720 $ HY WIL Lepreciation on the building in 2022. (Round answers to 0 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 17040 Accumulated Depreciation-Equipment 17040