Victor Mineli, the new controller of Wildhorse 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 Date Type of Asset Building Acquired Cost Jan. 1, 2014 $838,000 Accumulated Depreciation, Jan. 1, 2022 $156,500 22,250 Old 40 25 Proposed 58 20 Old $55,500 4,750 Proposed $35,700 3,750 Warehouse Jan. 1, 2017 116,000 All assets are depreciated by the straight-line method. Wildhorse 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.) e Your answer is incorrect. Compute the revised annual depreciation on each asset in 2022. (Round answers to 0 decimal places, e.g. 125.) Building Warehouse Revised annual depreciation $ List of Accounts X Your answer is incorrect. Prepare the entry to record depreciation on the building in 2022. (Round answers to O 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 O for the amounts.) Account Titles and Explanation Debit Credit List of Accounts