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garri49 [273]
3 years ago
13

Computer equipment was acquired at the beginning of the year at a cost of $57,000 that has an estimated residual value of $9,000

and an estimated useful life of 5 years. Determine the second-year depreciation using the straight-line method.
Business
1 answer:
ioda3 years ago
5 0

Answer:

$9,600

Explanation:

Annual Depreciation = Cost – Residual Value/Useful Life

Using the formula

Cost=$57,000

Residual value =$9,000

Useful life =5years

Hence:

$57,000 – $9,000/5

=$48,000/5

= $9,600

The second-year depreciation will therefore be $9,600

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Answer:

It will take 6.68 years to reach the $10,000 goal.

Explanation:

As the deposit of $1,000 per year is a form of the annuity payment.

We will use the following formula in order to calculate the numbers of year required to reach the goal

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Where

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Placing values in the formula

Future value of Annuity = Annuity payment x ( ( ( 1 + interest rate )^numbers of years ) - 1 ) / Interest rate

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n = 6.681525965

n = 6.68 years

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7 0
3 years ago
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jeyben [28]

Answer:

$13,800

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