2. The price of a corporate car purchased by Wright \& Company was $33,200. Its salvage value after operating for 120,000 miles is $3,200. Using the units-of-production method, given the annual usage information, calculate the annual depreciation for year 5 . (Round all dollar amounts to the nearest cent) YEAR. MILES 1. 23,026 2. 27,683 3. 22,509 4. 28,200 5. 27,942 3. The price of a High Definition TV purchased by Scranton High School was $2,034. It cost $100 for delivery and $175 for installation. The salvage value at the end of a 5-year life is $250. Using the sum-ofthe-years' digits depreciation, calculate the annual depreciation for year 4. A) $274.53 B) $582.34 C) $212.18 D) $674.09 4. Norman was charged 14.75% interest and paid $375 interest on a simple interest loan for 65 days from his local bank. How much did he borrow? Use ordinary interest. (Round to the nearest cent) 5. Use the ordinary interest method to compute the time for the following loan (round answer to the next higher day, when necessary). 6. Refer to Narrative 11-2. Liberty Gonzalez invested $17,000 in a certificate of deposit for one year, at 10% interest compounded semiannually. What is the effective rate of interest