Compute the annual depreciation to be charged, beginning with 2022. (Round answer to O decimal places, e.g. 45,892.) Annual depreciation expense-building %24

Extracted text: Compute the annual depreciation to be charged, beginning with 2022. (Round answer to O decimal places, e.g. 45,892.) Annual depreciation expense-building %24


Extracted text: In 1993, Concord Company completed the construction of a building at a cost of $ 2,100,000 and fırst occupied it in January 1994. It was estimated that the building will have a useful life of 40 years and a salvage value of $ 63,200 at the end of that time. Early in 2004, an addition to the building was constructed at a cost of $ 525,000. At that time, it was estimated that the remaining life of the building would be, as originally estimated, an additional 30 years, and that the addition would have a life of 30 years and a salvage value of $ 21,000. In 2022, it is determined that the probable life of the building and addition will extend to the end of 2053, or 20 years beyond the original estimate.