Symbols Amounts for Illustration
C = total acquisition cost January 1, 2003 $41,000
R = estimated residual value $1,000
n = estimated useful life (in years or miles) 4 years 200,000 miles
D = amount of depreciation Various
Calculate the depreciation of Year 4 using the reducing-balance method.
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Verified answer
Depreciation rate = 0.6048
depr ------------ book
0.00 ------------ 41,000.00
24,796.80 ------------ 16,203.20
9,799.70 ------------ 6,403.50
3,872.84 ------------ 2,530.67
1,530.55 ------------ 1,000.12