Danny Venable, the new controller of Seratelli Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2014. Here are his findings:

Type of

Date

Accumulated
Depreciation,

Useful Life (in years)

Salvage Value

Asset

Acquired

Cost

Jan. 1, 2014

Old

Proposed

Old

Proposed

Building

Jan. 1, 2006

$789,900

$146,868

$55,560

$36,590

Warehouse

Jan. 1, 2009

124,600

23,626

6,470

4,910

All assets are depreciated by the straight-line method. Seratelli Company uses a calendar year in preparing annual financial statements. After discussion, management has agreed to accept Danny’s proposed changes. (The “Proposed” useful life is total life, not remaining life.)

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Collapse question part

(a)

Compute the revised annual depreciation on each asset in 2014. (Round answers to 0 decimal places, e.g. 125.)

Building

Warehouse

Revised annual depreciation

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