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What the depreciation expense for the first year will be

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Reference no: EM132953406

Problem 1: Bombay Inc. bought new computers on January 1 for $18,000 to improve the quality of their animation. The computers have a useful life of 8 years but Bombay Inc. thinks that continuing technological developments will likely mean they will replace the computers after 4 years, at which time they will be worth $2,000. If they use straight-line depreciation, the depreciation expense for the first year will be

A) $2,000.

B) $2,250.

C) $4,000.

D) $4,500.

Problem 2: Assets acquired in a basket purchase are to be allocated a portion of the total price based on their respective

A) fair market values.

B) book values.

C) present values.

D) assessed values.

Reference no: EM132953406

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