Denger Victor Mineli, the new controller of Sunland Company, has reviewed the expected useful lives and salvage values of selecteddepreciable assets at the beginning of 2027. Here are his findings:Type ofAssetBuildingWarehouseDateAcquiredJan. 1, 2017Jan. 1, 2017Cost$734,500165,500Revised annual depreciation $AccumulatedDepreciation,Useful Life (in years)Jan. 1, 2027 Old Proposed$135,50040Building31,860 2548$20All assets are depreciated by the straight-line method. Sunland Company uses a calendar year in preparing annual financialstatements. After discussion, management has agreed to accept Victor's proposed changes. (The "Proposed" useful life is total life, notremaining life.)Compute the revised annual depreciation on each asset in 2027. (Round answers to O decimal places, e.g. 5,275.)Salvage ValueOld Proposed$35,000Warehouse$57,0006,2003,590

It is the amount of reuction in the value of a tangible fixed asset due to tear and wear,…

Victor Mineli, the new controller of Sunland Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2027. Here are his findings: Type of Asset Building Warehouse Date Acquired Jan. 1, 2017 Jan. 1, 2017 Cost $734,500 165,500 Accumulated Depreciation, Useful Life (in years) Jan. 1, 2027 Old Proposed 40 48 31,860 25 $135,500 20 Salvage Value Old $57,000 6,200 Proposed $35,000 3,590 All assets are depreciated by the straight-line method. Sunland 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.) Compute the revised annual depreciation on each asset in 2027. (Round answers to O decimal places, e.g. 5,275.)