Drill Problems $17-3$:

Prepare a depreciation schedule from the following:

Cost of machine: $$16,000$

Estimated Life: $5$ years

Rate: $40\%$

Residual value: $1,000$

$\backslash$table$[[$End of year,Cost of Machine,Accumulated depreciation At beginning of year,Book value at beginning of year,Depreciation $($book value at beginning of year times rate$),$Accumulated depreciation at end of year,Book value at end of year$($cost accumulated depreciation$],[,16000,,16000,6400,,],[2,16000,,9600,3840,,],[3,16000,,5760|,,,],[4,16000,,,,,],[5,16000,,,,,]]$

Remember not to go below residual value