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Calculate the book value of the equipment at december

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Rc9-V8z Company purchased a piece of equipment on January 1, 2031 for $218,000. The equipment was assigned an expected life of ten years and a residual value of $3,800. The straight-line method method will be used to record depreciation on the equipment. On January 1, 2036, Rc9-V8z Company spent $77,200 to overhaul the equipment. This capital expenditure resulted in Rc9-V8z Company changing the life of the equipment from 10 years to 25 years and adjusting the residual value to be $4,200 at the end of the 25 years.

Problem 1: Calculate the book value of the equipment at December 31, 2039.

Reference no: EM132873393

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