2. The company had a new roof installed on one of its buildings [which it originally purchased on June 30, 2001). The newr roof did not extend the life of the building. Completion of the work occurred on June 30, 2015 at a cost of $20,000. The old roof cost $15,000 with a book value of $7,500 at the time the new roof was completed. The company made all of the correct journal entries to record the disposition of the old asset and capitalization of the new asset but it calculated depreciation for the new roof with a useful life of 25 years. Note: Depreciation expense for the rest of the building was properly recorded