Question
The depreciation deduction for year 8 of an asset with a 20-year useful life is $4,900. If the salvage value of the asset was estimated
The depreciation deduction for year 8 of an asset with a 20-year useful life is $4,900. If the salvage value of the asset was estimated to be 4500 and straight-line depreciation was used to calculate the depreciation deduction for year 8, what was the initial cost of the asset?
o $102,500
o $64,605
o $82,910
o $87,910
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Accounting for Non-Accounting Students
Authors: John R. Dyson
8th Edition
273722972, 978-0273722977
