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Louies Marine Construction, Inc. purchased a motorized barge on January 1, 2023. The total acquisition cost of the barge was $325,000. Louies Marine Construction, Inc.

Louies Marine Construction, Inc. purchased a motorized barge on January 1, 2023. The total acquisition cost of the barge was $325,000. Louies Marine Construction, Inc. estimates that the barge will be worth $25,000 at the end of its ten-year useful life.

Complete the following chart assuming that Louies Marine Construction, Inc. uses the straight-line method to measure depreciation expense.

Year Annual Depreciation Expense Accumulated Depreciation at the End of the Year Net Book Value at the End of the Year
2023 Blank 1 Blank 2 Blank 3
2024 Blank 4 Blank 5 Blank 6
2025 Blank 7 Blank 8 Blank 9

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