Solve the problem.
-A printing press cost $47,100 and has an estimated life of 11 years and a scrap value of $5,652. Find
The total depreciation at the end of 2 years using the straight-line method. Round to nearest dollar.

Question

Quizplus · Accepted Answer

The total depreciation using the straight-line method is calculated by subtracting the scrap value from the cost and then dividing by the estimated life. So, ($47,100 - $5,652) / 11 = $3,768 per year. Over 2 years, this amounts to $3,768 * 2 = $7,536.

Solve the Problem. -A Printing Press Cost $47,100 and Has an Estimated Life