5.

Oriole Company constructed a building at a cost of $2,640,000 and occupied it beginning in January 2001 . It was estimated at that time that its life would be 40 years, with no salvage value. In January 2021, a new roof was installed at a cost of $360,000, and it was estimated then that the building would have a useful life of 25 years from that date. The cost of the old roof was $192,000. (a) What amount of depreciation should have been charged annually from the years 2001 to 2020 ? (Assume straight-line depreciation.) Depreciation per year $