The price of a large piece of construction equipment purchased by ...

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The price of a large piece of construction equipment purchased by Hass Construction Company was 53,500. It cost 1,275 for delivery and 2,750 for installation. The salvage value at the end of a 4-year life is 7,500. Using the straight-line depreciation method, calculate the annual depreciation for year 3.
 A) 15,925.26
  B) 22.301.33
  C) 12,506.25
  D) 13,501.87

Question 2

A home accessories store buys lamps with a net price of 22,600. The terms of sale are 4/15, n/30. If a partial payment of 10,300 is sent to the wholesaler on the discount date, what is the net amount still due?
 A) 21,696.00
  B) 11,870.83
  C) 12,712.00
  D) 11,808.00

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Answer to Question 1

C

Answer to Question 2

B