i Required information [The following information applies to the questions displayed below.] At the beginning of the year, Seraglio Companies bought machinery, shelving, and a forklift. The machinery initially cost $26,400 but had to be overhauled (at a cost of $1,360) before it could be installed (at a cost of $680) and finally put into use. The machinery's total life was estimated as 40,000 hours, with an estimated residual value of $1,000. The machinery was actually used 5,000 hours in year 1 and 7,000 hours in year 2. Repair costs were $370 in each year. The shelving cost $9,400 and was expected to last 5 years, with a residual value of $620. The forklift cost $11,700 and was expected to last six years, with a residual value of $2,040. 4. Compute year 2 straight-line depreciation expense for the shelving and give the journal entry to record it. Complete this question by entering your answers in the tabs below. Req 4A Req 4B Compute year 2 straight-line depreciation expense for the shelving. Year 2 straight-line depreciation expense