Homework Answers
The book value for the asset is computed as shown below:
= Installed cost - ( Depreciation rates for year 1 and 2 x Installed cost)
= $ 886,000 - ( ( 20% + 32% ) x $ 886,000 )
= $ 886,000 - $ 460,720
= $ 425,280
So the book value of the asset is $ 425,280
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