Equipment with a cost of $777,000 has an estimated residual value of $77,000, has an...
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Accounting
Equipment with a cost of $777,000 has an estimated residual value of $77,000, has an estimated useful life of 25 years, and is depreciated by the straight-line method.
a. Determine the amount of the annual depreciation. $_____
b. Determine the book value after 15 full years of use. $______
c. Assuming that at the start of the year 16 the remaining life is estimated to be 14 years and the residual value is estimated to be $63,000, determine the depreciation expense for each of the remaining 14 years. $_____
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