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Calculate the book value of the ovens at the end

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Question - East Mill Pizzeria is closing its business. It sold its two-year-old pizza ovens to Marco's Italian Restaurant for $550,000. Originally, East Mill acquired the pizza ovens at a cost of $745,000. The ovens had an estimated useful life of 10 years, an estimated residual value of $45,000, and were depreciated using straight-line depreciation. Complete the requirements below for East Mill Pizzeria. Calculate the book value of the ovens at the end of the second year.

Reference no: EM132920119

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