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Convert each of the following estimates of useful life to a straight-line depreciation rate, stated as a percentage, assuming that the residual value of the fixed asset is to be ignored: (a) 20 years, (b) 25 years, (c) 40 years, (d) 4 years, (e) 5 years, (f) 10 years, (g) 50 years.

A refrigerator used by a meat processor has a cost of $312,000, an estimated residual value of $42,000, and an estimated useful life of 15 years. What is the amount of the annual depreciation computed by the straight-line method?

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91574270

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