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- The pharmacy’s delivery van cost $12,000.00. Its estimated useful life is 10 years, and the disposal value is $1,500.00. What is the annual depreciation? (round to the nearest whole number) Group of answer choices $1,050.00 $3,000.00 $2,700.00 $11,850.00Using the MACRS table in your sildes covering chapters 9-11 and for an asset purchased at a cost of $200.000 and considered class 7, what is the MACRS depreciation for years two through five? a) Second year: b) Third year: d) Fourth year: d) Fifth year:Chapman Inc. purchased a piece of equipment in 2018. Chapman depreciated the equipment on a straight-line basis over a useful life of 10 years and used a residual value of $12,000. Chapmans depreciation expense for 2019 was $11,000. What was the original cost of the building? a. $98,000 b. $110,000 c. $122,000 d. $134,000
- Based on the data provided here, calculate the items requested: (LO 6.2) Annual depreciation, $2,500 Annual mileage, 13,200 Current year’s loan interest, $650 Miles per gallon, 24 Insurance, $680 License and registration fees, $65 Average gasoline price, $3.50 per gallon Oil changes/repairs, $370 Parking/tolls, $420 The total annual operating cost of the motor vehicle. The operating cost per mile.Vehicles R300 000, Accumulated depreciation R50 000. Depreciation is calculated at 10%on cost. An old vehicle was disposed on 31 August 2019 at R20 000 cash.The vehicle originally costed R25 000 and the Accumulated depreciation is R 3 000.Depreciation for the disposed vehicle is________.A. R2 500B. R1 250C. R2 000D. R500The cost of furniture was RO15000 and depreciation is charged at 12% per year. The amount of Depreciation of furniture at 31.12 is: Select one: a. 15000 OMR O b. 1800 OMR O c. 1500 OMR O d. 500 OMR
- A transportation company purchased a gasoline truck 5 years ago for $10,000.00. At that time, the truck's useful life was estimated at 10 years with a residual value of $1,000.00. Currently the truck can be sold for $2,800.00. The annual operation and maintenance costs for the next years are given by Cj =$2000 (1.10)j-1 (obs: j= 1, 2, 3, 4, 5). The company is considering replacing the current truck with an electric-powered truck that costs $8,000.00, has an estimated useful life of 10 years and a residual value that decreases by $600.00 per year. Annual operating and maintenance costs total $2,000.00. Determine for a minimum acceptable rate of return 10% per annum whether replacement should be made. (Answer: Substitution should not be done).Find the book value for the asset shown in the accompanying table, assuming that MACRS depresiing is being used: View the table attached: Asset Installed Cost Recovery Period (Years) Elapsed time since purchase (Years) A $902,000 5 3A table was purchased for RO 1200 and the depreciation is computed at the rate of 15%. What is the book value at the end of second year by using Written down value method? a. RO 1020 b. RO 867 c. RO 180 d. RO 153
- 10. An asset which cost $10,000 when new is being depreciated under MACRS using a 5-year normal recovery period. What is the depreciation expense in year 3?A. $1,900B. $1,200C. $1,500D. $2,100I have included the question and answer I just need to know how to get the answer. Chart attached. Find the depreciation for the indicated year using MACRS cost-recovery rates for the properties placed in service at midyear. Round dollar amounts to the nearest cent. Property Class: 3-year Depreciation year: 3 Cost of property: $97,700 $14,469.37 - answerUse the following information to answer the question:Cost of car: $26,000Residual value: $6,000Life: 5 yearsWith the information given, determine the depreciation expense for the first year using the straight-line method. A. $6,000 B. $5,200 C. $4,000 D. $4,400