A contractor purchased a dump truck for $98,500. This price included freight. Sales tax was 7.5%. The
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A contractor purchased a dump truck for $98,500. This price included freight. Sales tax was 7.5%. The useful life of this dump truck is 8 years and the salvage value is estimated at $10,000. What is the annual depreciation of the dump truck using straight line depreciation? What is the value of the dump truck at the end of year 1, 2, 3, 4, 5, 6, 7 and 8?
Related Book For
College Accounting Chapters 1-30
ISBN: 978-1259631115
15th edition
Authors: John Price, M. David Haddock, Michael Farina
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