Answer:
Results are below.
Explanation:
<u>The depreciable cost is the result of deducting from the purchase price the salvage value:</u>
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Depreciable cost= 56,000 - 8,000
Depreciable cost= $48,000
<u>The depreciable rate is the depreciation that the asset suffers in one year express as a percentage:</u>
<u></u>
Depreciation rate= 1/5 = 0.2 or 20% per year
<u>Finally, the units of production depreciation for the first year:</u>
Annual depreciation= [(original cost - salvage value)/useful life of production in copies]*number of copies
Annual depreciation= (48,000/1,000,000)*240,000
Annual depreciation= 0.048*240,000
Annual depreciation= $11,520
