Marigold Company constructed a building at a cost of $2,288,000 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...

Marigold Company constructed a building at a cost of $2,288,000 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 $312,000, 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 $166,400.