View Policies Current Attempt in Progress Terry Wade, the new controller of Ayayai Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Date Accumulated Depreciation Useful life (in Years) Salvage Value Type of Asset Acquired Cost Jan. 1, 2022 Old Proposed Old Proposed Building Jan. 1, 2016 $800,000 $114,750 40 50 $35,000 $69,250 Warehouse Jan. 1, 2017 100,000 19,200 25 20 4,000 20,800 All assets are depreciated by the straight-line method. Ayayai Company uses a calendar year in preparing annual adjusting entries and financial statements. After discussion, management has agreed to accept Terry's proposed changes. (The "Proposed" useful life is total life, not remaining life.) (a) Compute the revised annual depreciation on each asset in 2022. Revised annual depreciation Building +A Warehouse View Policies Current Attempt in Progress Terry Wade, the new controller of Ayayai Company, has reviewed the expected usefullives and salvage values of selected depreciable assets at the beginning of 2022. Here are his findings: Date Accumulated Depreciation Useful life (in Years) Salvage Value Type of Asset Acquired Cost Jan. 1, 2022 Old Proposed Old Proposed Building Jan. 1, 2016 $800,000 $114,750 40 50 $35,000 $69,250 Warehouse Jan. 1, 2017 100,000 19,200 25 20 4,000 20,800 All assets are depreciated by the straight-line method. Ayayai Company uses a calendar year in preparing annual adjusting entries and financial statements. After discussion, management has agreed to accept Terry's proposed changes. (The "Proposed" useful life is total life, not remaining life.) (a) Compute the revised annual depreciation on each asset in 2022. Revised annual depreciation Building +A Warehouse