(a) The depreciable cost = $ 1,150,000
(b) The straight-line rate = 7.93%
c) The annual straight-line depreciation = $115,000
Explanation
(a) The depreciable cost = cost - estimated residual value
= 1,450,000 - 300,000
=$ 1,150,000
(b) The straight-line rate = (Annual Straight Line depreciation / cost) x 100
Annual Straight Line depreciation = 1,150,000 / 10 = $115,000
Therefore, The straight-line rate = (115,000 / 1,450,000) x 100 = 7.93%
(c) The annual straight-line depreciation = Depreciable cost / Estimated Useful Life
= $ 1,150,000 / 10 years
= $115,000
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