Homework Answers
The correct answer is the third option with a value of $153,000.
We are given the following information by Blossom Company:
Cost of the machine = $178,000
Salvage value of the machine = $25,000
The depreciable cost of the asset is the cost of the asset reduced by its salvage value.
Therefore,
Depreciable cost of machine = Cost - Salvage value
Depreciable cost of machine = $178,000 - $25,000
Depreciable cost of machine = $153,000
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