. Terry purchases an annuity with payments made at the beginning of each month for 36 payments. The monthly payments are a const
1 answer:
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Answer:
$5,450
Explanation:
Data provided in the question:
List price of the machinery = $88,000
Discount offered = 10%
Amount of discount = 10% of $88,000
= 0.1 × $88,000
= $8,800
Shipping paid = $400
Sales tax = $4,900
Useful life = 10 years
Residual value = $30,000
Now,
Total cost of the machine = List price - Discount + Shipping + sales tax
= $88,000 - $8,800 + $400 + $4,900
= $84,500
Annual depreciation using straight line method is given as:
=
=
= $5,450
To find the total cost of the land is $65,000.
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To find the total cost of the last, add all the numbers as follows:
Subtract proceeds from the scalp =
Therefore, to find the total cost of the land is $65,000.
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