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Vargo purchased land on 3/1/17 for future expansion at a cost of $90,000. They made improvements of $10,000 that will have an indefinite life, and
Vargo purchased land on 3/1/17 for future expansion at a cost of $90,000. They made improvements of $10,000 that will have an indefinite life, and $76,000 of improvements with a 10 year life. Vargo uses straight line depreciation to the nearest month for any land-related items that require depreciation. Compute any depreciation necessary for 2022.
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