Elementary Technical Mathematics

Published by Brooks Cole
ISBN 10: 1285199197
ISBN 13: 978-1-28519-919-1

Chapter 1 - Section 1.1 - Review of Basic Operations - Exercise: 55

Answer

The annual depreciation is $17,200

Work Step by Step

First, find the difference between the cost price and the salvage value to find the total value that will be depreciated over the ten years: 175000-3000=172,000 Next, find the amount that will depreciate annually over the ten years by dividing this difference by 10: $172000\div10=17200$ Thus the annual depreciation is $17,200
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