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