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Calculate the annual straight-line depreciation

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Reference no: EM132770066

Problem 1: Mike's Tires purchases a new piece of equipment for $5,200. It also pays $500 for installation and $200 for delivery. If the company expects the equipment to last for 10 years, with a $900 residual value, calculate the following:

a. Depreciable cost

b. Straight-line rate

c. Annual straight-line depreciation

Reference no: EM132770066

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