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Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

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BuyFindarrow_forward

Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447
Textbook Problem

Complete Exercises 18-23 as they relate to the declining-balance method of depreciation. Round to the nearest hundredth of a percent when necessary.

Useful Life Straight-Line Declining-Balance
(Years) Rate (%) Multiple (%) Rate (%)
21. 8 _______ 150 ____

To determine

To calculate: The straight-line rate and declining-balance rate when the useful life is 8 years and declining-balance multiple is 150.

Explanation

Given Information:

The useful life is 8 years and declining-balance multiple is 150.

Formula used:

The Straight-Line rate is:

Straight-Line Rate(%)=1Number of years of useful life×100

The declining balance rate is:

Declining-balance rate=1Useful life×Multiple

Calculation:

The provided useful life is 8 years.

The Straight-Line rate is:

Straight-Line Rate(%)=1Number of years of useful life&#

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