A bottle-capping machine costs $55,000, has an estimated life of 5 years, and has a scrap value of $20,000. Use the straight-line method to find (a) the annual rate of depreciation, (b) the annual amount of depreciation, and (c) the book value at the end of first year. (a) The annual rate of depreciation is Q% (Type a whole number or decimal rounded to the nearest tenth as needed.)

A bottle-capping machine costs $55,000, has an estimated M fe of 5 years, and has a scrap value of $20,000. Use the straight-line method to find (a) the annual rate of depreciation, (b) the annual amount of depreciation, and (c) the book value at the end of first year. (a) The annual rate of depreciation is x0 (Type a whole number or decimal rounded to the nearest tenth as needed.)