Cardinal industries purchased a generator that cost $11,000. it has an estimated life of five years and a residual value of $1,000. it is estimated to be good for 5,000 hours. if depreciation is computed for the first full year using the straight-line method of depreciation, which information is needed for the calculation?

$11,000 cost, five-year life, and $1,000 salvage value

Explanation:

Under the straight-line method, the formula to compute the depreciation expense is shown below:

= (Purchase value of generator - residual value) ÷ (estimated useful life)

By considering these three items, we can easily find out the depreciation expense by using the above formula

All other information which is given is not relevant. Hence, ignored it as it is related to units-of production method.

you will have $2593.74 in 10 years if you set aside $1,000 at 10%

you will have $9321.91 in 20 years if you set aside $2000 at 8%

you will have $1469.32 in 5 years if you set aside $1000 at 8%

you will have $1296.87 in 10 years if you set aside $500 at 10%

you will have $239.66 in 15 years if you set aside $100 at 6%

you will have $4660.96 in 20 years if you set aside $1000 at 8%

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