Victor Minell, the new controller of Ivanhoe 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 Date Acquired Accumulated Depreciation, Jan 1, 2022 Useful Life (in years) Proposed Salvage Value Old Proposed Cost Old Building Jan 1, 2014 $857,000 $159.100 40 58 $61,500 $35,600 Warehouse Jan 1, 2017 129.500 24,960 25 5,300 20 4,700 All assets are depreciated by the straight-line method. Ivanhoe 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.) (a) X Your answer is incorrect. Compute the revised annual depreciation on each asset in 2022. (Round answers to decimal places, es. 125) Building Warehouse $ 16558 3970 Revised annual depreciation