Determine the length of service life necessary

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Reference no: EM131061580

In order to make it worthwhile to purchase a new piece of equipment, the annual depreciation costs for the equipment cannot exceed $3000 at any time. The original cost of the equipment is $30,000, and it has zero salvage and scrap value. Determine the length of service life necessary if the equipment is depreciated

(a) by the sum-of-the-years-digits method, and

(b) by the straight-line method.

Reference no: EM131061580

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