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  3. in 1998 , sheffield company completed the construc

In 1998 , Sheffield Company completed the construction of a building at a cost of...

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Accounting

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In 1998 , Sheffield Company completed the construction of a building at a cost of $2,340,000 and first occupied it in January 1999 . It was estimated that the building will have a useful life of 40 years and a salvage value of $69,600 at the end of that time. Early in 2009, an addition to the building was constructed at a cost of 5585,000 . 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 523,400 In 2027, it is determined that the probable life of the building and addition will extend to the end of 2058 , or 20 years beyond the original estimate. Compute the annual depreciation to be charged, beginning with 2027. (Round answer to 0 decimal places; eg. 45,892.) Arnual depreciation expense-building $

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