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You are to develop a depreciation calculator using external classes that can return values for annual depreciation cost and values to build a schedule for the life of the asset. Depreciation is an accounting concept that requires yearly cost allocations for assets such as equipment and other material resources used in business. That is, if a company purchases a piece of equipment (a car or truck would be one example) for $30,000 but expects to use that piece of equipment for several years, it cannot take the full expense of the item in the year it is purchased - the expense must be portioned out over the life of the item. The simplest form of depreciation is called straight line. In this form the same amount of expense is recorded each year. Depreciation expenses are always based on the original purchase cost of an item less any 'salvage value' that is expected at the end of the useful life of the item. In straight line depreciation, the difference between cost and salvage value is just divided by the number of years of service expected. In other words, if our $30,000 truck is expected to be worth $5000 after 5 years of useful life, then the depreciation per year is (30000 - 5000) / 5 = $5000 per year. A straight line depreciation schedule would be: Year Start Value Depreciation End Value 1 30,000 5,000 25,000 2 25,000 5,000 20,000 3 20,000 5,000 15,000 4 15,000 5,000 10,000 5 10,000 5,000 5,000 The values needed for the depreciation calculation: Cost, Salvage Value, and Life of Item An alternative depreciation method is Double Declining Balance (DDL). This accelerates the depreciation taken into the earlier years of asset's life. In this method, you still use purchase price and salvage value, but the depreciation calculated each year is at twice the rate of straight line (but not exactly twice the amount): the catch here is that the calculation takes the doubled rate and applies it to the starting balance for the year. Using our example of the 30,000 asset with 5,000 salvage value and 5 years of life, we first see that the straight line method rate is .2 or 20% which is 1/5 (rate is always 1 divided by the number of years of life). We then apply twice that rate, .4 or 40% per year in each year of life. Thus, a 'pure' double-declining schedule would be: Year Start Value Depreciation End Value 1 30,000 12,000 (=30,000 * .4) 18,000 2 18,000 7,200 (=18,000 * .4) 10,800 3 10,800 4,320 (=10,800 * .4) 6,480 4 6,480 1,480 ** 5,000 5 --no depreciation allowed-- Note that in year 4, the calculated depreciation would have been 2592 (6,480 * .4), but only 1480 was allowed because that brought the asset value down to its salvage value. But also note that in year 3 the calculated depreciation is actually less than the annual straight-line amount would be for that year (4,320 vs. 5,000); when this happens, the business is allowed to 'switch back' to the annual straight-line amount, so the actual double declining schedule used would be:

Year Start Value Depreciation End Value 1 30,000 12,000 (=30,000 * .4) 18,000 2 18,000 7,200 (=18,000 * .4) 10,800 3 10,800 5,000 5,800 (5000 > [10,800 * .4]) 4 5,800 800 5,000 5 5,000 0 5,000 (no depreciation allowed) Again, the salvage value is the lowest the ending balance is permitted to go. So the full rule on DDL depreciation is: twice the straight line rate applied to the asset beginning balance for each year until depreciation falls below straight line, then switching to straight line until salvage value is reached (which usually means a small amount taken in the year the salvage value is reached). Part A: In part A you will code the interface (see notes below) and one of the depreciation methods:

IDLE Shell 3.10.5 X File Edit Shell Debug Options Window Help RESTART: D: \\Classes\\IS280\\Depreciation\\Depreciation4 . py Welcome to the Depreciation Calculator Asset by nput, nput, ile, or nput, ile, or > > Ln: 547 Col: 0IDLE Shell 3.10.5 X File Edit Shell Debug Options Window Help > > > RESTART: D: \\Classes\\IS280\\Depreciation\\Depreciation4 . py Welcome to the Depreciation Calculator Asset by nput, ile, or L, DL, one (S/D/B/N) : s Straight Line Depreciation Schedule Year Beg . Value Depreciation End. Value 1 30, 000.00 5, 000. 00 25, 000.00 2 25, 000.00 5, 000. 00 20, 000. 00 20, 000.00 5, 000.00 15, 000.00 15, 000.00 5, 000. 00 10, 000.00 5 10, 000.00 5, 000.00 5, 000. 00 Asset by nput, ile, or > > Ln: 517 Col: 45IDLE Shell 3.10.5 X File Edit Shell Debug Options Window Help Asset by nput, ile, or L, DL, one (S/D/B/N) : s Straight Line Depreciation Schedule Year Beg . Value Depreciation End . Value 30, 000.00 3, 333. 33 26, 666.67 26, 666.67 3, 333.33 23, 333.33 AWNI 23, 333.33 3, 333. 33 20, 000.00 20, 000.00 3, 333. 33 16, 666. 67 16, 666. 67 3, 333.33 13, 333.33 13, 333.33 3, 333.33 10, 000.00 10, 000.00 3, 333.33 6, 666.67 6, 666. 67 3, 333.33 3, 333.33 3, 333.33 3, 333.33 0. 00 Asset by nput, ile, or nput, ile, or uit: (i/f/q) : i Asset Cost: 100000 Salvage Value: 10000 Life (years) : 7 That asset will have a straight line annual depreciation of: $12, 857. 14 The first year depreciation for DDL would be: $28, 571.43 Schedule: L, DL, one (S/D/B/N) : S Straight Line Depreciation Schedule Year Beg . Value Depreciation End . Value 1 100, 000.00 12, 857. 14 87, 142. 86 2 87, 142. 86 12, 857. 14 74, 285.71 74, 285.71 12, 857 . 14 61 , 428.57 A W 61, 428.57 12, 857 . 14 48, 571 . 43 48, 571 . 43 12, 857 . 14 35, 714.29 35, 714.29 12, 857 . 14 22, 857 .14 22, 857.14 12, 857. 14 10, 000.00 Asset by nput, ile, or > > Ln: 478 Col: 0IDLE Shell 3.10.5 O X File Edit Shell Debug Options Window Help Asset by nput, ile, or L, DL, one (S/D/B/N) : d Double Declining Depreciation Schedule Year Beg . Value Depreciation End . Value Actual Dep. $ 1 100, 000.00 40, 000.00 60, 000.00 40. 008 2 60, 000. 00 24, 000.00 36, 000.00 24.00% 36, 000.00 18, 000.00 18, 000.00 18.00$ 18, 000.00 8, 000.00 10, 000.00 8. 00% 10, 000.00 0. 00 10, 000.00 0. 00% Asset by nput, ile, or L, DL, oth, one (S/D/B/N): d Double Declining Depreciation Schedule Year Beg.Value Depreciation End.Value Actual Dep.% 1 100,000.00 40,000.00 60,000.00 40.00% 2 60,000.00 24,000.00 36,000.00 24.00% 3 36,000.00 18,000.00 18,000.00 18.00% 4 18,000.00 8,000.00 10,000.00 8.00% 5 10,000.00 0.00 10,000.00 0.00% Do you have another asset? (Y/N): y Ln: 663 Col: 34 # *IDLE Shell 3.9.1* = o x >>> N ============ RESTART: D:\\Classes\\IS280\\Depreciation\\Depreciation3.py =========== Welcome to the Depreciation Calculator Do you have an asset? (Y/N): y Asset Cost: 30000 Salvage Value: 5000 Life (years): 5 That asset will have a straight line annual depreciation of: $5,000.00 The first year depreciation for DDL would be: $12,000.00 Schedule: L, DL, oth, one (S/D/B/N): b Straight Line Depreciation Schedule Year Beg.Value Depreciation End.Value 1 30,000.00 5,000.00 25,000.00 2 25,000.00 5,000.00 20,000.00 3 20,000.00 5,000.00 15,000.00 4 15,000.00 5,000.00 10,000.00 5 10,000.00 5,000.00 5,000.00 Double Declining Depreciation Schedule Year Beg.Value Depreciation End.Value Actual Dep.% 1 30,000.00 12,000.00 18,000.00 40.00% 2 18,000.00 7,200.00 10,800.00 24.00% 3 10,800.00 5,000.00 5,800.00 16.67% 4 5,800.00 800.00 5,000.00 2.67% 5 5,000.00 0.00 5,000.00 0.00% Do you have another asset? (Y/N): | 2 Ln: 562 Col: 0 # *IDLE Shell 3.9.1* = =} X Eile Edit Shell Debug Options Window Help Asset Cost: 30000 Salvage Value: 1000 Life (years): 8 That asset will have a straight line annual depreciation of: $3,625.00 The first year depreciation for DDL would be: $7,500.00 Schedule: L, DL, oth, one (S/D/B/N): b Straight Line Depreciation Schedule Year Beg.Value Depreciation End.Value 1 30,000.00 3,625.00 26;375.00 2 26,375.00 3,625.00 22,750.00 3 22,750.00 3,625.00 19,125.00 4 19,125.00 3,625.00 15,500.00 5 15,500.00 3,625.00 11,875.00 6 11,875.00 3,625.00 8,250.00 7 8,250.00 3,625.00 4,625.00 8 4,625.00 3,625.00 1,000.00 Double Declining Depreciation Schedule Year Beg.Value Depreciation End.Value Actual Dep.% 1 30,000.00 7,500.00 22,500.00 25.00% 2 22,500.00 5,625.00 16,875.00 18.75% 3 16,875.00 4,218.75 12,656.25 14.06% 4 12,656.25 3,625.00 9,031.25 12.08% 5 9,031.25 3,625.00 5,406.25 12.08% 6 5,406.25 3,625.00 1;781:2% 12.08% 7 1;781.25 781:25 1,000.00 2.60% 8 1,000.00 0.00 1,000.00 0.00% % Ln: 652 Col: 0 IDLE Shell 3.10.5 X File Edit Shell Debug Options Window Help == RESTART: D: \\Classes\\IS280\\Depreciation\\Depreciation4. py Welcome to the Depreciation Calculator Asset by nput, ile, or L, DL, oth, one (S/D/B/N) : b Straight Line Depreciation Schedule Year Beg . Value Depreciation End . Value 30, 000.00 5, 000.00 25, 000.00 25, 000.00 5, 000.00 20, 000.00 20, 000.00 5, 000. 00 15, 000.00 15, 000.00 5, 000. 00 10, 000.00 10, 000.00 5, 000.00 5, 000.00 Double Declining Depreciation Schedule Year Beg . Value Depreciation End . Value Actual Dep. 8 30, 000.00 12, 000.00 18, 000.00 40 .00% 18, 000.00 7, 200.00 10, 800.00 24.008 10, 800.00 5, 000. 00 5, 800.00 16. 67% 5, 800.00 800. 00 5, 000.00 2. 67% 5, 000.00 0. 00 5, 000.00 0. 00$ Ln: 455 Col: 0# *IDLE Shell 3.9.1* = o x >>> N ============ RESTART: D:\\Classes\\IS280\\Depreciation\\Depreciation3.py =========== Welcome to the Depreciation Calculator Do you have an asset? (Y/N): y Asset Cost: 30000 Salvage Value: 5000 Life (years): 5 That asset will have a straight line annual depreciation of: $5,000.00 The first year depreciation for DDL would be: $12,000.00 Schedule: L, DL, oth, one (S/D/B/N): b Straight Line Depreciation Schedule Year Beg.Value Depreciation End.Value 1 30,000.00 5,000.00 25,000.00 2 25,000.00 5,000.00 20,000.00 3 20,000.00 5,000.00 15,000.00 4 15,000.00 5,000.00 10,000.00 5 10,000.00 5,000.00 5,000.00 Double Declining Depreciation Schedule Year Beg.Value Depreciation End.Value Actual Dep.% 1 30,000.00 12,000.00 18,000.00 40.00% 2 18,000.00 7,200.00 10,800.00 24.00% 3 10,800.00 5,000.00 5,800.00 16.67% 4 5,800.00 800.00 5,000.00 2.67% 5 5,000.00 0.00 5,000.00 0.00% Do you have another asset? (Y/N): | 2 Ln: 562 Col: 0 IDLE Shell 3.10.5 X File Edit Shell Debug Options Window Help == RESTART: D: \\Classes\\IS280\\Depreciation\\Depreciation4. py Welcome to the Depreciation Calculator Asset by nput, ile, or L, DL, oth, one (S/D/B/N) : b Straight Line Depreciation Schedule Year Beg . Value Depreciation End . Value 30, 000.00 5, 000.00 25, 000.00 25, 000.00 5, 000.00 20, 000.00 20, 000.00 5, 000. 00 15, 000.00 15, 000.00 5, 000. 00 10, 000.00 10, 000.00 5, 000.00 5, 000.00 Double Declining Depreciation Schedule Year Beg . Value Depreciation End . Value Actual Dep. 8 30, 000.00 12, 000.00 18, 000.00 40 .00% 18, 000.00 7, 200.00 10, 800.00 24.008 10, 800.00 5, 000. 00 5, 800.00 16. 67% 5, 800.00 800. 00 5, 000.00 2. 67% 5, 000.00 0. 00 5, 000.00 0. 00$ Ln: 455 Col: 0IDLE Shell 3.10.5 O X File Edit Shell Debug Options Window Help Asset by nput, ile, or L, DL, one (S/D/B/N) : d Double Declining Depreciation Schedule Year Beg . Value Depreciation End . Value Actual Dep. $ 1 100, 000.00 40, 000.00 60, 000.00 40. 008 2 60, 000. 00 24, 000.00 36, 000.00 24.00% 36, 000.00 18, 000.00 18, 000.00 18.00$ 18, 000.00 8, 000.00 10, 000.00 8. 00% 10, 000.00 0. 00 10, 000.00 0. 00% Asset by nput, ile, or Lib 69 print ("Straight Line Depreciation Schedule:") > Scripts 70 display_depreciation_schedule (asset, 'straight_line' ) 71 O.gitignore print ("\ Double Declining Balance Depreciation Schedule:") 72 display_depreciation_schedule (asset, ' double_declining' ) = pyvenv.cfg 73 elif method_choice == '4': Asset.py 74 print ("No depreciation method selected. ") ~ Depreciation.py 75 else : = Machine.ast 76 print ("Invalid choice. Please run the program again. ") = Truck.ast 77 > db External Libraries 78 Scratches and Consoles 79 if __name__ = = "__main__": 80 main () Run Depreciation D G T 4. None Choose a method: 2 D Double Declining Balance Depreciation Schedule: Year Start Value Depreciation End Value Actual Dep. % 40000 . 00 16000.00 24000 .00 40 . 00 Process finished with exit code 0 o DepreciationCalculator > ~ Depreciation.py 12:33 CRLF UTF-8 4 spaces Python 3.12 (DepreciationCalculator) d' 72OF Sunny Q Search T o O W PC 10:13 AM 7/19/2024DC DepreciationCalculator ~ Version control Current File v D & Q X Project v Asset.py ~ Depreciation.py x QDepreciationCalculator C:\\Users\\Cash America\\Desktop\\Python\\P 28 def main () : A2AV Bo v O.venv library root 68 elif method_choice == '3' : > Lib 69 print ("Straight Line Depreciation Schedule:") > Scripts 70 display_depreciation_schedule (asset, 'straight_line' ) 71 O.gitignore print ("\ Double Declining Balance Depreciation Schedule:") 72 display_depreciation_schedule (asset, ' double_declining' ) = pyvenv.cfg 73 elif method_choice == '4': Asset.py 74 print ("No depreciation method selected. ") ~ Depreciation.py 75 else : = Machine.ast 76 print ("Invalid choice. Please run the program again. ") = Truck.ast 77 > db External Libraries 78 Scratches and Consoles 79 if __name__ = = "__main__": 80 main () Run Depreciation D G T Year Start Value Depreciation End Value Actual Dep. % 30000 . 00 12000 . 00 18000 .00 40.00 DY 18000 . 00 7200 . 00 10800 .00 24.00 10800.00 4320.00 6480.00 14. 40 6480 .00 1480.00 5000 . 00 4.93 Process finished with exit code 0 o DepreciationCalculator > ~ Depreciation.py 12:33 CRLF UTF-8 4 spaces Python 3.12 (DepreciationCalculator) 72OF Q Search T W PC Sunny o O 10:17 AM 7/19/2024<><><><><><>