Question

Juanita purchased a forklift for $23,000 to move materials in her warehouse. The salvage value of the forklift is $3,150, and its useful life is 10 years. How much will Juanita write off as a depreciation expense each year for the forklift?

Answer 1

Answer:

$1,985

Step-by-step explanation:

To find the depreciation value we use this formula:

$\dfrac{Purchase Price-Salvage Value}{Estimated Useful Life}$

PP = 23,000

SV = 3,150

EUL = 10

$\dfrac{23000-3150}{10}$

This will give us:

$1,985

So Juanita will write $1,985 for the depreciation expense each year for the forklift.

Answer 2

Answer:

$1,985

Step-by-step explanation:

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