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Harlamova29_29 [7]
3 years ago
5

On January 1, 2021, the Excel Delivery Company purchased a delivery van for $51,000. At the end of its five-year service life, i

t is estimated that the van will be worth $6,000. During the five-year period, the company expects to drive the van 171,000 miles. Required: Calculate annual depreciation for the five-year life of the van using each of the following methods.
Business
1 answer:
kherson [118]3 years ago
6 0

Answer:

The answer is "Complete but not absolutely right".

Explanation:

In production technique segments, it should first calculate the cost of fuel per mile and afterward measure the depreciation.

\ per \ mile \ rate =  \frac{\ cost - \ salvage value}{\ Estimated \ mile }

\ estimated \ mile = 171000 \\\\\ per \ mile \ rate = (\$ 51000 - \$ 6000) / 171000  \\\\  \ per \ mile \ rate = $45000 / 171000 = \\\\\ per \ mile \ rate = \$ 0.263157894 per mile

Calculating Depreciation:

\ Depreciation \ expense =  \ per \ mile \ rate \times  \ Mile \ drives

\ Depreciation \ for \ 2021 :  \\\\  \ Mile \ drives \ = 11000 \\\ Depreciation = \$ 0.263157894 * 11000 \\\ Depreciation = \$ 2895

\ Depreciation \ for \ 2022 \ : \\\\\ Miles \ drives = 42000\\\ Depreciation = \$ 0.263157894 * 42000\\ \ Depreciation = $11053 \\\\\ Depreciation \ for \ 2023 \ :\\\\\ Miles \ drives = 43000\\\ Depreciation = \$ 0.263157894 * 43000 \\\ Depreciation = \$ 11316 \\\\\ Depreciation \ for \ 2024 \ :

\ Miles \ drives = 38000\\\ Depreciation  = \$ 0.263157894 * 38000 \\\ Depreciation = \$ 10000 \\\\\ Depreciation \ for \ 2025 \ :\\\\\ Miles \ drives = 39000\\\ Depreciation = \$ 0.263157894 * 39000 \\\ Depreciation = \$ 10263

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For the following demand equation compute the elasticity of demand and determine whether the demand is elastic, unitary, or inel
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Answer:

Note: While answering this question, there is a confusion as to whether the correct demand equation is p= 157 − x2 as it appears in the question, or p= 157 − x^2 which is suspected to be the correct equation. Whichever the case may be, answers are provided for the two equations. Just confirm from the original question or your teacher which one is correct and pick the relevant answer out of the two following answers:

1. If p= 157 − x2 is the correct equation:

Elasticity of demand = - 0.15

Since -0.15 in absolute term |-0.15| is less than 1, the demand is inelastic.

2. If p= 157 − x^2 is the correct equation:

Elasticity of demand = - 0.28

Since -0.28 in absolute term |-0.28| is less than 1, the demand is also inelastic.

Explanation:

Elasticity of demand is the degree of responsive of quantity demanded of a good to change in its price.

For this question, elasticity of demand can be computed using the formula for calculating the elasticity of demand as follows:

1. If p= 157 − x2 is the correct equation

E = Elasticity of demand = (p / x) * (dx / dp) ............................... (1)

From the question, we have:

p = 157 − x2.

Therefore, we solve for as follows:

x2 = 157 - p

x = (157 - P) / 2

x = 78.5 - 0.5p ....................................................... (2)

Differentiating equation (2) with respect to p, we have:

dx/dp = -0.5

Substituting values for dx/dp and x into equation (1), we have:

E = [p / (78.5 - 0.5p)] * (-0.5)

Since p = 20, we have:

E = [20 / (78.5 - (0.5 * 20))] * (-0.5)

E = [20 / (78.5 - 10)] * (-0.5)

E = − 0.15

Since -0.15 in absolute term |-0.15| is less than 1, the demand is inelastic.

2. If p = 157 − x^2 is the correct equation

E = (p / x) * (dx / dp) ............................................ (1)

From the question, we have:

p = 157 − x^2.

Therefore, we solve for as follows:

x = 157^(1/2) – p^(1/2)

x = 157^0.5 – p^0.5 ........................................... (2)

Differentiating equation (2) with respect to p, we have:

dx/dp = -0.5p^(-0.5) = -0.5/p^0.5

Substituting values for dx/dp and x into equation (1), we have:

E = (p / x) * (dx / dp)

E = [p /  (157^0.5 – p^0.5)] * [ -0.5/p^0.5]

Since p = 20, we have:

E = [20 /  (157^0.5 – 20^0.5)] * [–0.5/20^0.5]

E = - 0.28

Since -0.28 in absolute term |-0.28| is less than 1, the demand is inelastic.

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<h3>What is compounding?</h3>

This can be explained to be a situation where the interest that is made from a sum of money is added into the principal sum of money and reinvested.

The initial principal amount and the interest made after a period when added together is regarded as compounding.

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