   Chapter 17.I, Problem 8RE ### Contemporary Mathematics for Busin...

8th Edition
Robert Brechner + 1 other
ISBN: 9781305585447

#### Solutions

Chapter
Section ### Contemporary Mathematics for Busin...

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

# Note: Round answers to the nearest cent when necessary.Calculate the total cost total depreciation, and annual depreciation for the following assets by using the straight-line method. Shipping Setup Total Salvage Estimated Useful life Total Annual Cost Charges Charges Cost Value (years) Depreciation Depreciation 8. $34,800$600 $1,900 _______$8,100 6

To determine

To calculate: The total cost, total depreciation and annual depreciation of the asset when the asset purchased cost is $34,800. Explanation Given Information: The cost of the asset is$34,800 and the shipping and the setup charges were $600 and$1,900, respectively. The salvage value of asset is $8,100 and expected to last 6 years. Formula used: The steps to calculate annual depreciation by straight line method are as follows: Step 1: Calculate the total cost. Step 2: Calculate the total amount of depreciation by subtracting salvage value from the total cost by using the formula, Total amount of depreciation=Total costSalvage cost Step 3: Calculate the annual depreciation by dividing estimated useful life from the total amount of depreciation given by the formula, Total amount of annual depreciation=Total depreciationestimated useful life Calculation: Consider the provided cost of asset is$34,800 and the shipping and the setup charges were $600 and$1,900, respectively

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