Homework Answers
Correct answer----------$8,750
Working
| Straight line Method - for year 1 | ||
| A | Cost | $ 50,000 |
| B | Residual Value | $ 10,000 |
| C=A - B | Depreciable base | $ 40,000 |
| D | Life [in years left ] | 8 |
| E=C/D | Annual SLM depreciation | $ 5,000.00 |
For year 2 and onwards
| Straight line Method -For year 2 | ||
| A | Ending book value at year 1 end | $ 45,000 |
| B | Residual Value | $ 10,000 |
| C=A - B | Depreciable base | $ 35,000 |
| D | Life [in years left ] (5-1) | 4 |
| E=C/D | Annual SLM depreciation | $ 8,750.00 |
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