SOLUTION: The lost value of equipment over a period of time is called depreciation. The simplest method for calculating depreciation is straight-lne depreciation. The annual straight-line

Question 454076: The lost value of equipment over a period of time is called depreciation. The simplest method for calculating depreciation is straight-lne depreciation. The annual straight-line depreciation D of an item that costs x dollars with a useful life of n years is D= (1/n)x. Find the depreciation for items with the given characteristics.
Cost is $15,968; life is 13 yr
The annual straight-line depreciation is approximately $_ per year.
(Round to hte nearest cent.)
Thankyou for your help it is much appreciated.
Answer by stanbon(75887) (Show Source): You can put this solution on YOUR website!
The annual straight-line depreciation D of an item that costs x dollars with a useful life of n years is D= (1/n)x. Find the depreciation for items with the given characteristics.
Cost is $15,968; life is 13 yr
----
D(x) = (1/13)15968 = $1228.31
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The annual straight-line depreciation is approximately $1228.31per year.
(Round to hte nearest cent.)
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Cheers,
Stan H.
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