A machine that cost $256,000 has an estimated residual value of $16,000 and an estimated useful...
A machine that cost $256,000 has an estimated residual value of $16,000 and an estimated useful life of 16,000 machine hours in year 2, and 4000 in year 3,
Calculate its book value at the end of year 3 (Do not round intermediate calculations.
Homework Answers
Cost = $256,000
Residual Value = $16,000
useful life = 16,000 machine hours
Depreciation rate per machine hour = ($256,000 - $16,000) / 16,000hrs = $15
Depreciation till end of 3years = $15 x (4,000 + 5,000 + 4,000) hrs = $195,000
Book value of asset = $256,000 - $195,000 = $61,000
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