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tigry1 [53]
3 years ago
9

on January 1, 2017, anodel, Inc. acquired a machine for 1,010,000. the estimated useful life of the asset is five years. residua

l value at the end of fiev years is estimated to be 62000. calculate the depreciation expensive per year using the straight line method
Business
1 answer:
Licemer1 [7]3 years ago
6 0

Answer:

Annual depreciation= $189,600

Explanation:

Giving the following information:

On January 1, 2017, anodel, Inc. acquired a machine for 1,010,000. the estimated useful life of the asset is five years. residual value at the end of five years is estimated to be 62000.

Annual depreciation= (original cost - salvage value)/estimated life (years)

Annual depreciation= (1,010,000 - 62,000)/5= $189,600

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