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    Straight line Method of depreciation

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    Using the straight line method of depreciation for a 10-year period on a piece of equipment costing $15,000 with a salvage value of 1,000, for a 10-year period, the approximate annual depreciation would be?

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    Cost = $ 15,000
    Salvage value= $ 1,000
    Useful life= 10 years
    Therefore ...

    Solution Summary

    The solution uses Straight line Method of depreciation to calculate the approximate annual depreciation.