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Suppose you buy a piece of office equipment for $9,000.00. After 5 years you sell it for a scrap value of $2,000.00. The equipment is depreciated linearly over 5 years. The value of the piece of equipment after 2 years is (rounded to the nearest whole dollar)

Respuesta :

Residual value = $2000

$7000/5 = $1400

Yearly depreciation = $1400

So in 2 years total depreciation = $2800.

Value = Purchase Price - Total Depreciation
Value = $9000               -    $2800
Value after 2 years = $6200

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