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White Mountain Supply Company purchases warehouse shelving for $18,300. Shipping charges were $370, and assembly and setup amounted to $575. The shelves are expected to
White Mountain Supply Company purchases warehouse shelving for $18,300. Shipping charges were $370, and assembly and setup amounted to $575. The shelves are expected to last for 8 years and have a scrap value of $800. Use the straight-line method of depreciation to answer the questions. (Round your answers to the nearest cent.)
(a)
What is the annual depreciation expense (in $) of the shelving?
$
(b)
What is the accumulated depreciation (in $) after the third year?
$
(c)
What is the book value of the shelving (in $) after the fifth year?
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