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SafeToday Inc also just purchased an hydraulic press for $10,596. It cost $1,695 to install the press. They expect that the electrical cost next year
SafeToday Inc also just purchased an hydraulic press for $10,596. It cost $1,695 to install the press.
They expect that the electrical cost next year will be $704.
The press is being depreciated straight-line over 7 years to a final book value of $937.
Their tax rate is 33%.
They expect to sell the press for $1,159 five years from today.
What is the book value of the asset after 4 years of depreciation?
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