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What is the appropriate annual depreciation charge

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Problem - Splendid Ltd purchased a building on a prime central business district site for $1 500 000. The value of the land is considered to be $1 000 000. The useful life of the building is expected to be 20 years after Splendid Lid spends a further $100 000 on improvements. The residual value of the building at that time is estimated to be $50 060. The benefits from owning the land and building are expected to be derived evenly. What is the appropriate annual depreciation charge?

Reference no: EM132641425

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