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Answer:
Rate of depreciation per year is 4310 $/ year and the depreciation schedule is given below.
Step-by-step explanation:
According to the question,
since, it is straight-line depreciation,
rate of depreciation per year = $/year
= 4310 $/ year
So we can prepare the following table. (year = 0 for the base period)
Year Depreciation Accumulated Book value
expense depreciation
( in $) (in $) (in $)
0 0 0 21920
1 4310 4310 17610
2 4310 8620 13300
3 4310 12930 8990
4 4310 17240 4680