On January 1, 2023, Vin Diesel Inc purchases a fleet of six vehicles for $50,000 each. They pay cash for the purchase. Vehicles have zero salvage value for depreciation calculations. Vin Diesel expects they will be able to use the vehicles to generate revenue for four years. At the end four years they were lucky to sell vehicles for scrap for $2,000 each. What is the total salvage value for all six vehicles?

Answer rating: 100% (QA)

The salvage value is the amount expected to be receiv... View the full answer