What is the estimated annual depreciation expense for years 2021 and 2022 based on Salvage Value of 15%, a Useful Life of 10 years, and an Annual Capital Expenditure of $20,000?

 

Income Statement Sales Revenue Cost of Sales Gross Profit SG&A Expense Depreciation Expense Interest Expense Income Before Income Taxes Income Taxes Net Income 2020 $50,000 ($22,500) $27,500 ($5,000) ($8,500) $0 $14,000 ($3,500) $10,500 2021E 2022E SO $0 SO SO $0 SO