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Alborosie
3 years ago
7

Straight-Line Depreciation Irons Delivery Inc. purchased a new delivery truck for $42,000 on January 1, 2019. The truck is expec

ted to have a $2,020 residual value at the end of its 5-year useful life. Irons uses the straight-line method of depreciation. Required:
Business
1 answer:
Ket [755]3 years ago
5 0

Answer:

Annual depreciation= $7,996

Explanation:

Giving the following information:

Purchase price= $42,000

Useful life= 5 years

Salvage value= $2,020

<u>To calculate the annual depreciation under the straight-line method, we need to use the following formula:</u>

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

Annual depreciation= (42,000 - 2,020) / 5

Annual depreciation= $7,996

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3 years ago
The JPY/AUD spot exchange rate is 82.42, the JPY interest rate is 0.15%, and the AUD interest rate is 4.95%. If the interest rat
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