Louisville Farms, a breeder of racehorses, paid $432,000 cash for a prize-winning stallion on January 1, 2003. The stallion is depreciated on a straight-line basis, with depreciation for partial years rounded to the nearest month. Estimated useful life was nine years, with no residual value. After owning the animal for six years and five months, Louisville Farms sold the stallion on May 31, 2009, for cash of $85,000. Depreciation had last been recorded on December 31, 2008.
Compute the book value of the stallion at May 31, 2009, the date of sale. $________
We need at least 10 more requests to produce the solution.
0 / 10 have requested this problem solution
The more requests, the faster the answer.