10.

Company A acquired a building for $320,000. The estimated salvage value and useful life is $35,000 and 12 years, respectively. Calculate depreciation expense in year 2 using the declining balance method.

Group of answer choices

$47,500

$53,333

$39,583

$44,445

11.

Company B had three types of vehicles. Vehicle 1 had a cost of $35,000, salvage value of $8,000, and useful life of 6 years. Vehicle 2 had a cost of $58,000, salvage value of $3,000 and useful life of 10 years. Vehicle 3 had a cost of $19,500, salvage value of $1,500, and useful life of 4 years. What is the composite depreciation rate?

Group of answer choices

20%

14.5%

12.9%

13.3%