What is the depreciation deduction, using the declining balance (DB) method with a 200% DB ratio,...
What is the depreciation deduction, using the declining balance (DB) method with a 200% DB ratio, associated with the third year for an asset that cost $35,000 and has an estimated MV of $9,000 at the end of its seven-year useful life? Express your answer in terms of dollars and cents, rounded to the nearest cent (e.g., 1234.56).
Homework Answers
Purchase price = 35000
Salvage value = 9000
useful life = 7 years
200% DB, so d= 2/useful life = 2/7
Depreciation in any year m = Purchase price *(1-d)m-1*d
Depreciation in year 3 = 35000 * (1-2/7)3-1*(2/7)
= 35000*0.510204*2/7
=5102.04
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