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Compute the depreciation rate per year for the group

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Problem - At the beginning of Year 1, Herkimer &. Co. purchases a group of seven laptops for its new hires. The laptops are purchased for $2,300 each with a residual value of $500 each. Herkimer expects the laptops to be used for 3 years. Compute the depreciation rate per year for the group.

Reference no: EM132885528

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