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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Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.