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1. JR Construction just purchased a grader for $300,000 with an expected life of 10 years. a. Calculate the book value at the end of

1. JR Construction just purchased a grader for $300,000 with an expected life of 10 years.

a. Calculate the book value at the end of year 4 using MACRS with a class rating of 10.

b. What is the salvage value at the end of 10 years, considering MACRS depreciation?

2. If a credit union pays a nominal 6% annual interest compounded monthly, what is the effective annual rate?

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