newconnect. meducation.com 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! Shahia Company bought a building for $72.000 cash and the land on which it was located for $110,000 cash. The company paid transfer costs of $13,000 $5,000 for the building and $8.000 for the land Renovation costs on the building before it could be used were $25,000 E8-3 Part 2 2. Compute straight-line depreciation at the end of one yearassuming an estimated 10 year useful life and a $15.000 estimated residual value Straight line depreciation Nel >