A grader has an initial cost of $220,000 and an estimated useful life of 12 years. The
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A grader has an initial cost of $220,000 and an estimated useful life of 12 years. The salvage value after 12 years of use is estimated to be $25,000.
a) What is the annual depreciation amount, if the straight-line method of depreciation accounting is used?
b) What is the book value at the end of the sixth year, if the sum-of-the-years method of depreciation accounting is used?
c) What is the book value at the end of the fifth year if the double declining-balance method of depreciation accounting is used?
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