E8-3 (Static) Computing and Recording Cost and Depreciation of Assets (Straight-Line Depreciation) LO8-2, 8-3 (The following information applies to the questions displayed below.) Shahia Company bought a building for $382,000 cash and the land on which it was located for $107,000 cash. The company paid transfer costs of $9.000 ($3,000 for the building and $6,000 for the land). Renovation costs on the building before it could be used were $21,000. E8-3 Part 2 2. Compute straight-line depreciation at the end of one year, assuming an estimated 10-year useful life and a $15,000 estimated residual value Straight-line depreciation