Apply the Concepts

A company plans to make a new product that requires new equipment costing $$1,600,000.$ Both the product and equipment have a life of four years. The equipment will be depreciated on a straight$-$line basis, with no expected salvage value. The annual income statement for the product is given below.

$\backslash$table$[[$Revenues$,\backslash$table$[[$$$1,800,000$