Find annual rate of depreciation and amount of depreciation

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Reference no: EM131760971

Transocean Drilling spent $236,000,000 to purchase a new offshore drilling rig capable of drilling to 40,000 feet. The useful life is 20 years and the salvage value is estimated to be $12,000,000. Use the straight-line method of depreciation to find

(a) the annual rate of depreciation

(b) the annual amount of depreciation, and

Reference no: EM131760971

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