1. A commercial building has a salvage value of PhP 2 million after 50 years. Annual depreciation is PhP 2M. Using the Straight Line Method, how many years after should you sell the building for PhP 30M? В. 36 years С. 35 years D. 36.5 years A. 35.5 years

1. A commercial building has a salvage value of PhP 2 million after 50 years. Annual depreciation is PhP 2M. Using the Straight Line Method, how many years after should you sell the building for PhP 30M? В. 36 years С. 35 years D. 36.5 years A. 35.5 years

Fundamentals Of Construction Estimating

4th Edition

ISBN:9781337399395

Author:Pratt, David J.

Publisher:Pratt, David J.

Chapter9: Pricing Construction Equipment

Section: Chapter Questions

Problem 6RQ

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Concept explainers

Tax Significance of Depreciation

While calculating taxes, depreciation is the method used to allocate the cost of a tangible or immovable asset over the useful life of an asset. In other words, allocate part of that cost to the times when tangible assets help generate revenue or sales. By recording the depreciation of an asset, depreciation reduces the amount of taxes a company or business pays in tax deductions.

Question

1. A commercial building has a salvage value of PhP 2 million after 50 years. Annual depreciation is
PhP 2M. Using the Straight Line Method, how many years after should you sell the building for PhP
30M?
В. 36 years
C. 35 years
D. 36.5 years
A. 35.5 years

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