Answer:
d. $5,000
Explanation:
Patnode's information is missing, so I looked it up. I found the balance sheet for 2014 and 2015. Hope that it is the same question:
total depreciation expense for 2015 = change in accumulated depreciation (2015 - 2014) + change in accumulated amortization (2015 - 2014) = ($3,000 - $0) + ($3,000 - $1,000) = $3,000 + $2,000 = $5,000
Answer:
$ 127,773.36
Explanation:
The professor will be in sabbatical in years 7, 14, 21, 28, 35 and 42
In each of these years, he receives full pay amounting to=50,000
The PV of the sabbatical full pay
=
=50,000/(1+4%)^7+ 50,000/(1+4%)^14+ 50,000/(1+4%)^21+ 50,000/(1+4%)^28+50,000
/(1+4%)^35+ 50,000/(1+4%)^42
==50,000/(1+4%)^7+ 50,000/(1+4%)^14+ 50,000/(1+4%)^21+ 50,000/(1+4%)^28+50,000
/(1+4%)^35+ 50,000/(1+4%)^42
=
=37,993.92 + 28,868.36 + 21,939.45 + 16,672.22 + 12,671.06 + 9,628.35
= $ 127,773.36
Thus, at an interest rate of 4%, the present value of all the sabbatical earnings amount to $ 127,773.36