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What are the total expenses that should be recorded

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Question - A company installed two oil tanks for $2,500,000 on Jan 1, 2013. It is expected that the tanks will have a life of 10 years and at the end of the 15 years t hey will cost $600,000 (present value at 10% is $231,330) to dismantle. 10% is deemed the appropriate interest rate for the company. What are the total expenses that should be recorded for 2013 as a result of this installation? Please show all work.

Reference no: EM131911333

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