Check my work Part 2 of 3 Required information E8-3 (Algo) Computing and Recording Cost and Depreciation of Assets (Straight-Line Depreciation) LO8-2, 8-3 The following information applies to the questions displayed below. 20 points Shahia Company bought a building for $74,000 cash and the land on which it was located for $116,000 cash. The company paid transfer costs of $15,000 ($6,000 for the building and $9,000 for the land). Renovation costs on the building before it could be used were $20,000. (8 00:30:15 Skipped E8-3 Part 2 eBook 2. Compute straight-line depreciation at the end of one year, assuming an estimated 10-year useful life and a $9,000 estimated residual value. Hint Straight-line depreciation Print References