M9-10 Reporting and Recording the Disposal of a Long-Lived Asset (Straight-Line Depreciation) [LO 9-5] [The following information applies to the questions displayed below.] As part of a major renovation at the beginning of the year, Atiase Pharmaceuticals, Inc. sold shelving units (recorded as Equipment) that were 10 years old for $1190 cash. The shelves originally cost $7,960 and had been depreciated on a straight-line basis over an estimated useful life of 10 years with an estimated residual value of $660