Problem: The lost value of equipment over a period of time is called depreciation. The simplest method for calculating depreciation is straight-line depreciation. The annual straight-line depreciation D of an item that costs x dollars with a useful life of n years is D=(1/n)x.
Find the depreciation for items with the given characteristics.
Cost is $15,969 life is 12 years.
The annual straight-line depreciation is approximately $ per year?