1 answer

Equipment with a cost of $164,572.00 has an estimated residual value of $8,319.00 and an estimated...

Question:

Equipment with a cost of $164,572.00 has an estimated residual value of $8,319.00 and an estimated life of 6 years or 14,652 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,423 hours?

Select the correct answer.

$45.65

$26,042.17

$6.00

$36,503.82


Answers

Depreciation under Straight line Method = (Cost - Residual value) / useful life

= ($164572 - $8319) / 6

=$26042.17

ANSWER $ 26042.17

.

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