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You decide you need to purchase a reliable car to get you to class at Baylor. Because you are a student you are only able

You decide you need to purchase a reliable car to get you to class at Baylor. Because you are a student you are only able to spend $15,000 with the intent to trade it in 5 years from now. At the end of 5 years, the car will have a salvage value of $7,500. What is the annual straight-line depreciation? What is the book value of the car at the end of years 1, 2, 3, 4, and 5?

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