Novak Company connstructed a building at a cost of S2,486,000 and occupied it beginning in January 1938. It was estimated at that time that its life would be 40 years, with no salvage value In January 2018, a new roof was installed at a cost of $339,000, 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 $180,800 Your answer is correct. What amount of depreciation should have been charged annually from the years 1998 to 2017? (Assurme straight-line depreciation.) Depreciation from the years 1998 to 2017621 Your answer is partially oorrect. Try again. What entry should be made in 2018 to record the replacement of the roof? (lf no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account titles are automatically indented when amount is enfered. Do not indent manually.) Account Titles and Explanation Debit Credit s on Disposal of Plant lated De ation-Build ildin To record the disposition of the old roof.) Accumulated De (To record the installation of the new roof.) Your answer is incorrect. Try again. Prepare the entry in January 2018 to record the revision in the estimated life of the building, if necessary. fIf no entry is required, select "No entry" for the account titles and enter 0 for the amounts. Credit account tittes are automatically indented when amount is entered. Do not Indent manually.) Account Tites and Explanation Debit Credit Your answer is correct What amount of depreciation should be charged for the year 2018? Depreciation for the year 2018 (Assume the cost of the old roof is removed) Depreciation for the year 2018 (Assume the cost of the new roof is debited to accumulated depreciation building)