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- The pharmacy’s delivery van cost $12,000.00. Its estimated useful life is 10 years, and the disposal value is $1,500.00. What is the annual depreciation? (round to the nearest whole number) Group of answer choices $1,050.00 $3,000.00 $2,700.00 $11,850.00Using the MACRS table in your sildes covering chapters 9-11 and for an asset purchased at a cost of $200.000 and considered class 7, what is the MACRS depreciation for years two through five? a) Second year: b) Third year: d) Fourth year: d) Fifth year:Chapman Inc. purchased a piece of equipment in 2018. Chapman depreciated the equipment on a straight-line basis over a useful life of 10 years and used a residual value of $12,000. Chapmans depreciation expense for 2019 was $11,000. What was the original cost of the building? a. $98,000 b. $110,000 c. $122,000 d. $134,000
- The cost of furniture was RO15000 and depreciation is charged at 12% per year. The amount of Depreciation of furniture at 31.12 is: Select one: a. 15000 OMR O b. 1800 OMR O c. 1500 OMR O d. 500 OMRVehicles R300 000, Accumulated depreciation R50 000. Depreciation is calculated at 10%on cost. An old vehicle was disposed on 31 August 2019 at R20 000 cash.The vehicle originally costed R25 000 and the Accumulated depreciation is R 3 000.Depreciation for the disposed vehicle is________.A. R2 500B. R1 250C. R2 000D. R500A transportation company purchased a gasoline truck 5 years ago for $10,000.00. At that time, the truck's useful life was estimated at 10 years with a residual value of $1,000.00. Currently the truck can be sold for $2,800.00. The annual operation and maintenance costs for the next years are given by Cj =$2000 (1.10)j-1 (obs: j= 1, 2, 3, 4, 5). The company is considering replacing the current truck with an electric-powered truck that costs $8,000.00, has an estimated useful life of 10 years and a residual value that decreases by $600.00 per year. Annual operating and maintenance costs total $2,000.00. Determine for a minimum acceptable rate of return 10% per annum whether replacement should be made. (Answer: Substitution should not be done).
- Find the book value for the asset shown in the accompanying table, assuming that MACRS depresiing is being used: View the table attached: Asset Installed Cost Recovery Period (Years) Elapsed time since purchase (Years) A $902,000 5 3Based on the data provided here, calculate the items requested: (LO 6.2) Annual depreciation, $2,500 Annual mileage, 13,200 Current year’s loan interest, $650 Miles per gallon, 24 Insurance, $680 License and registration fees, $65 Average gasoline price, $3.50 per gallon Oil changes/repairs, $370 Parking/tolls, $420 The total annual operating cost of the motor vehicle. The operating cost per mile.10. An asset which cost $10,000 when new is being depreciated under MACRS using a 5-year normal recovery period. What is the depreciation expense in year 3?A. $1,900B. $1,200C. $1,500D. $2,100
- A table was purchased for RO 1200 and the depreciation is computed at the rate of 15%. What is the book value at the end of second year by using Written down value method? a. RO 1020 b. RO 867 c. RO 180 d. RO 153I have included the question and answer I just need to know how to get the answer. Chart attached. Find the depreciation for the indicated year using MACRS cost-recovery rates for the properties placed in service at midyear. Round dollar amounts to the nearest cent. Property Class: 3-year Depreciation year: 3 Cost of property: $97,700 $14,469.37 - answerUse the following information to answer the question:Cost of car: $26,000Residual value: $6,000Life: 5 yearsWith the information given, determine the depreciation expense for the first year using the straight-line method. A. $6,000 B. $5,200 C. $4,000 D. $4,400