<u>Answer:</u> The future value is $1348.48
<u>Explanation:</u>
To calculate the future value of annuity, we use the equation:
where,
P = principle amount = $ 200
r = Rate of interest = 15 % = 0.15
n = number of periods = 5
Putting values in above equation, we get:
Hence, the future value is $1348.48
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Answer:
Depreciation Expense=$7800
Explanation:
Step 1:
Calculate Net Income:
Net Income=Retained Earnings + Dividends
Net Income=$6250+$2200
Net Income=$8450
Step 2:
Calculate earnings before tax:
Earnings before tax=Net Income/(1-Tax Rate)
Earnings before tax=$8450/(1-0.35)
Earnings before tax=$13000
Step 3:
Depreciation Expense=Sales-Costs-Interest expense-Earnings before tax
Depreciation Expense=$48,000- $22,400-$4,800-$13000
Depreciation Expense=$7800