Required information [The following information applies to the questions displayed below) Bridge City Consulting bought a building and the land on which it is located for $175,000 cash. The land is estimated to represent 70 percent of the purchase price. The company paid $20,000 for building renovations before it was ready for use. 3. Compute straight-line depreciation on the building at the end of one year, assuming an estimated 10-year useful life and a $19,500 estimated residual value. (Do not round intermediate calculations.) 4. What should be the book value of (a) the land and (b) the building at the end of year 2? 3 Straight-Line Depreciation 4(a) Land 4(b) Building