Revision of Depreciation RatesPerkins Construction Company bought a building for

Revision of Depreciation RatesPerkins Construction Company bought a building for $800000 to be used as a warehouse. A number of major structural repairs completed at the beginning of the current year at a cost of $125000 are expected to extend the life of the building 10 years beyond the original estimate. The building has been depreciated by the straight-line method for 25 years. The salvage value is expected to be negligible and has been ignored. The book value of the building before the structural repairs is $400000.(a) What has the amount of annual depreciation been in past years?(b) What is the book value of the building after the repairs have been recorded?(c) What is the amount of depreciation for the current year according to the straight-line method? (Assume that the repairs were completed at the very beginning of the year.)