What is the velocity of 360?
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$ 376153 is depreciation on the building for 2018.
<u>Explanation:</u>
Given data:
Original cost = $13.1 million
Residual value = $2.1 million
Useful life = 20 -year
Depreciation on the building for 2016 =
By substituting the given values, we get,
= 5500000
Depreciation for 2016 $5500000
Depreciation for 2017 $5500000
Depreciation at Dec 31, 2017 $ 5500000
In 2018, the estimates of useful life and residual value were changed to 15 years and $610000, but 2 yrs have already passed, so there're 13 more yrs to go.
Depreciation on the building for 2018,
=