Use simple spreadsheets where necessary to perform repeated calculations.

Create a simple plan using Excel Workbook for a working spreadsheet using the following information:

A new Car is purchased for $32,000 excluding GST. Its salvage value is expected to be $4,000 after its useful life of 8 years.

Required: Prepare a depreciation schedule using both straight line and diminishing balance depreciation methods. Demonstrate the differences in the Depreciation methods using Straight Line Graphs.