Porter's Garage bought a new machine for $16,300. Shipping charges were $200 and the machine is expected to have a useful life of 4 years and a residual value of $1,500. Porter will use the 150% declining-balance method of depreciation.
A)What is the beginning book value?
B)What is the declining-balance rate? (Round to nearest tenth of a percent)

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The Answer of Porter's Garage bought a new machine for $16,300. Shipping charges were $200 and the machine is expected to have a useful life of 4 years and a residual value of $1,500. Porter will use the 150% declining-balance method of depreciation.
A)What is the beginning book value?
B)What is the declining-balance rate? (Round to nearest tenth of a percent)

Porter's Garage Bought a New Machine for $16,300