3.2 Abdullah found an old Nutribullet smoothie maker that he wants to use for his business. Unfortunately, he cant remember what he paid for it. He took it in for evaluation at a local dealer and was told that the Nutribullet is currently valued at $350.53 and should have a depreciation rate of 15% per year. He had this asset for 5 years now and has asked you to help calculate the original cost of his asset in order for him to add it to his books.

3.3. Abdullah has a commercial fridge in his coffee shop that cost $4200 and depreciated over one year with $840. Abdullah asked you to help him calculate the rate of depreciation for this asset using the diminishing balance method.