For income tax purposes, a man uses a method called straight-line depreciation to show the loss in value of a copy machine he

Question

2 years ago

12

For income tax purposes, a man uses a method called straight-line depreciation to show the loss in value of a copy machine he

recently purchased. A man assumes that he can use the machine for years. The following graph shows the value of the machine over the years. What loss in value occurred during the first year?

Mathematics

1 answer:

PtichkaEL [24] · Answer 1 · 2022-07-16T21:29:52+03:00

Answer: $500

Step-by-step explanation:

The vertical axis of the graph represents the value of the copy machine and the horizontal axis represents the years.

Using the line, one can see that in the first year, the value of the machine went from $7,000 to $6,500.

The loss in value is therefore;

= 7,000 - 6,500

= $500

<em>The needed graph is attached. </em>

For income tax​ purposes, a man uses a method called​ straight-line depreciation to show the loss in value of a copy machine he

For income tax purposes, a man uses a method called straight-line depreciation to show the loss in value of a copy machine he