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depreciation questions, is this correct? Depreciation expense for 10 manufacturing grade sewing machines, sewing machines cost $425 each. using the straight line/prime cost depreciation method

depreciation questions,

is this correct?

  • Depreciation expense for 10 manufacturing grade sewing machines, sewing machines cost $425 each. using the straight line/prime cost depreciation method the sewing machines have an effective life of 5 years, $425x(365/365) x 20% = $85 per annum per machine
  • also bought a computer at $697 for business it has a useful life of 4 years
  • $697x(365/365) x 25%=174.25 per year

are these correct?

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