A cargo van purchased by Airport Carriers should last 3 years. The purchase price was 70,800. Shipping costs were 1,557. The trade-in value is 5,412. Prepare a depreciation schedule using the double declining balance method, then enter the accumulated depreciation at the end of year 2 as your answer. (Round the declining balance rate to 4 decimal places, and all dollar amounts to the nearest cent)
A) 64,318.94
B) 48,240.41
C) 62,949.05
D) 47,223.60
Question 2
What word is represented by the abbreviation: ea
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Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.