Victor mineli, the new controller of crane company, has reviewed the

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Victor Mineli, the new controller of Crane Company, has reviewed the expected useful lives and salvage values of selected depreciable assets at the beginning of 2017. Here are his findings:

Type of	Date		Accumulated Depreciation,	Useful Life (in years)		Salvage Value
Asset	Acquired	Cost	Jan. 1, 2017	Old	Proposed	Old	Proposed
Building	Jan. 1, 2009	$772,000	$141,800	40	48	$63,000	$35,200
Warehouse	Jan. 1, 2012	164,000	31,690	25	20	5,550	5,400

All assets are depreciated by the straight-line method. Crane 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.)

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