E$8-3($Algo$)$ Computing and Recording Cost and Depreciation of Assets $($Straight$-$Line Depreciation$)$ LO$8-2,8-3$

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Shahia Company bought a building for $$90,000$ cash and the land on which it was located for $$111,000$ cash. The company paid transfer costs of $$11,000($$$5,000$ for the building and $$6,000$ for the land$).$ Renovation costs on the building before it could be used were $$32,000.$

E$8-3$ Part $3$

$3.$ Determine the net book value of the property $($land and building$)$ at the end of year $2.$

Note: Amounts to be deducted should be indicated by a minus sign.