(Answered) Jim company bought a machine for 46900 with an estimated

Management Studies

Jim Company bought a machine for $46,900 with an estimated life of 6 years. The residual value of the machine is $6,700. Assume straight-line depreciation.

a. Calculate the annual depreciation.

Annual depreciation $

b. Calculate the book value at the end of year 3.

Book value $

Please show your work

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