Homework Answers
Computation of Depreciation expense using Straight line methods:
Depreciation expense = (Cost of Asset - Salvage value)/Useful life
= ($42100 - $2500)/5
= $39600 / 5
= $7920
Depreciation expense for the year 2020 i.e for 7 month = $7920 * 7/12 = $4620.
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