Straight$-$line depreciation

A building acquired at the beginning of the year at a cost of $$70,700$ has an estimated residual value of $$2,700$ and an estimated useful life of $10$ years. Determine the following:

$($a$)$ The depreciable cost

$($b$)$ The straight$-$line rate

X $\%$

$($c$)$ The annual straight$-$line depreciation

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Straight$-$line depreciation allocates the depreciable cost of the asset equally over the expected useful life.