Required Intormation [The following informotion applies to the questions displayed below]. Timberly Construction makes a lump-sum purchase of several assets on January 1 at a total cash price of $900,000. The estimated marketvalues of the purchosed assets are bulding, $508,800 : land, $297,600, land improvements, $28,800. and four yehicles, $124,800, Compute the first-year depreciation expense on the building using the straight-line method, assuming a 15 -year life and a $27,000 salvage value