On January 1, 2017, Anodel, Inc. acquired a machine for $1,010,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $62,000. Calculate the depreciation expense per year using the straight-line method.

Depreciation expense = $189600

Explanation:

Depreciation can be calculated by two methods. It can be calculated either by written down value method or it can also be calculated by straight line method. Under the straight line method, the value of depreciation remains same every year and whereas under the written down value method, the value of depreciation decreases every year but it can never be 0.

The Calculation of the depreciation expense per year using SLM as per the given data is as follows:

=$189600

b

explanation:

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%