Bridge City Consulting bought a building and the land on which it is located for $120,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $10,000 for building renovations before it was ready for use. 3.	Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $13,000 estimated residual value. (Do not round intermediate calculations.)

4.	What should be the book value of (a) the land and (b) the building at the end of year 2?