SOLUTION: The yearly depreciation for a piece of machinery was $1500 over 6 years. If the cost of the machinery was $15,000, what was its salvage value?

Question 90: The yearly depreciation for a piece of machinery was $1500 over 6 years. If the cost of the machinery was $15,000, what was its salvage value?
Answer by ichudov(507) (Show Source): You can put this solution on YOUR website!
is that 1,500 per year? If so, then, every year the machine depreciated by 1,500. Over six years it depreciated by six times that much, that is, 1,500*6=9,000. The salvage value is the original cost 15,000 minus depreciation 9,000, or

15,000-9,000 = 6,000
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