Question
-A police department purchases new patrol cars worth $250,000 each. It is estimated that its useful life will be 5 years, at the end of which its value waste will be $30,000.00 a) Determine the depreciation rate b) Determine the annual depreciation by the fixed percentage method. c) Prepare the depreciation table
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Answer to a math question -A police department purchases new patrol cars worth $250,000 each. It is estimated that its useful life will be 5 years, at the end of which its value waste will be $30,000.00 a) Determine the depreciation rate b) Determine the annual depreciation by the fixed percentage method. c) Prepare the depreciation table
Murray
4.592 Answers
1. Determine the depreciation rate:
P = 1 - \left( \frac{30000}{250000} \right)^{\frac{1}{5}} \approx 0.3990 \approx 40\%
2. Calculate the annual depreciation:
D = P \times V \approx 40\% \times \$250,000 = \$100,000
3. Create the depreciation table by applying annual depreciation until the salvage value is reached.
2. Calculate the annual depreciation:
3. Create the depreciation table by applying annual depreciation until the salvage value is reached.
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