Homework Answers
| Straight-Line Depreciation | ||||
| Choose Numerator | / | Choose Denominator | = | Annual Depreciation Expense |
| Depreciable Value | / | Number of Years of Useful Life | = | Depreciation Expense |
| $65,400 | / | 4 | = | $16,350 |
Therefore, annual depreciation expense for the first year and remaining three years is $16,350 because the depreciation expense for each year is same.
Working notes:
Depreciable Value = Cost of Asset - Salvage Value
= $66,400 - $1,000
= $65,400
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