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Suncoast Food Centers has provided the following information with regard to the purchase of equipment. Acquisition cost of equipment $640,000 Useful life 5years Salvage value
Suncoast Food Centers has provided the following information with regard to the purchase of equipment.
Acquisition cost of equipment $640,000
Useful life 5years
Salvage value at end of useful life 0
Annual straight-line depreciation $128,000
Annual income generated by asset
(before deducting depreciation) $192,000
Use a 10 percent rate to compute the imputed interest charge.
Required:
Complete the following table.
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