Homework Answers
Book Value after 4 years = Purchase Price - Accumulated Depreciation
= $29,000 - [$29,000 * (0.20 + 0.32 + 0.192 + 0.1152)]
= $29,000 - [$29,000 * 0.8272] = $29,000 - $23,988.80 = $5,011.20
After-tax Salvage Value = Salvage Value - [Tax Rate * (Salvage Value - Book Value)]
= $10,000 - [0.35 * ($10,000 - $5,011.20)]
= $10,000 - [0.35 * $4,988.80]
= $10,000 - $1,746.08 = $8,253.92
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