M9-10 Reporting and Recording the ulsposa : 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, Atase Pharmaceuticals, Inc. sold sheving units recorded as Equipment) that were 10 years old for $1,310 cash. The shelves originally cost $8,440 and had been depreclated on a straight-ine basis over an estimated useful life of 10 years with an estimated residual value of $740. References the Disposal of a Long-Lived Asset (Straight- Line Depreciation) (LO 9-5)