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alexgriva [62]
3 years ago
11

6 years ago paid 490,000 using 40 year straight line depreciation, what is the value

Business
1 answer:
Black_prince [1.1K]3 years ago
6 0
AS land cannot be depreciated we will first subtract the value of the land from the complex so we are left with $390,000 (490,000-100,000) In straight line method each year the asset is depreciated by the same amount so in order to find out yearly depreciation we will divide 390,000 by 40 =9750 In 6 years the complex has depreciated for $58,500 So the current value of the apartment complex would be (490,000-58500) The current value of the apartment complex is $431500

Read more at Answer.Ya.Guru – https://answer.ya.guru/questions/86442-six-years-ago-a-commercial-property-owner-paid-490000-for-her.html
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