Homework Answers
1) Original depreciation expense = (24120-2200/8) = 2740 per year
Accumulated depreciation = 2740*4 = 10960
Revised depreciation expense = (24120-2200-10960)/2 = 5480
So answer is a) $5480.00
2) Preferred dividend = 2300*20*7.5% = 3450
Year 2 Preferred dividend = 3450+450 = 3900
So answer is e) $3900
3) Outstanding Shares = 24000-8000 = 16000
So answer is e) 16000
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