Calculate the depreciation expense

Reference no: EM132208070

Question - EZjET Airways recently hired a new manager for its struggling finance division. The manager has been given the responsibility for operating the airline more profitably. A fixed asset having a useful life of three years is purchased on January 1, 2017. The cost of the asset is $5,000,000 whereas its residual value is expected to be $1,250,000. Calculate the depreciation expense for the years ending December 30, 2017 and December 30, 2018.

Reference no: EM132208070

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