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In 2018, Close Co. purchased a bus for 501385. The company expects the bus to last for 11 years and should travel about 324771 kilometres

In 2018, Close Co. purchased a bus for 501385. The company expects the bus to last for 11 years and should travel about 324771 kilometres (kms). It is expected that the bus will be sold at an auction for $30,000 in the end. During 2018 the bus was used for 30,000 kms.

Calculate the depreciation expense for the machine 2018 using the straight line method.


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