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Santana Rey is considering the purchase of equipment for Business Solutions that would allow the company to add a new product to its computer furniture line. The equipment is expected to cost $255,000 and to have a five-year life and no salvage value. It will be depreciated on a straight-line basis. Business Solutions expects to sell 100 units of the equipment's product each year. The expected annual income related to this equipment follows. Sales $ 383,000 Costs Materials, labor, and overhead (except depreciation) 199,000 Depreciation on new equipment 51,000 Selling and administrative expenses 32,000 Total costs and expenses 282,000 Pretax income 101,000 Income taxes (35%) 35,350 Net income $ 65,650 HOW TO CALCULATE- Accounting Rate of Return for the equipment:
Decision usefulness is an underlying theme of the conceptual framework, true or false? Users of financial statements are assumed to have substantial knowledge of business and financial accounting matters by financial statement preparers, true or fa..
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