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Calculate the annual depreciation charge

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Question: A company enters into a finance lease of an asset with a fair value of £58,000 and an estimated useful life of 10 years. The lease term is for a period of 8 years and the expected residual value of the asset at the end of the lease term is £2,000. The lessee's interest in the residual value is 100%. The annual depreciation charge based on the straight line method would be?

Reference no: EM132745269

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