Shahia Company bought a building for $382,000 cash and the land on which it was located for $107,000 cash. The company paid transfer costs of $9,000 ($3,000 for the building and $6,000 for the land). Renovation costs on the building before it could be used were $21,000.

3. What would be the net book value of the property (and and building) at the end of year 2? (Amounts to be deducted should be indicated by a minus sign.) Net book value of property at end of Year 2 Net book value 2. Compute straight-line depreciation at the end of one year, assuming an estimated 10-year useful life and a $15,000 estimated residual value. Straight-line depreciation