a certain car was purchased for $36,000. the car has a resale value of $28,200 after a useful life of 6…

a certain car was purchased for $36,000. the car has a resale value of $28,200 after a useful life of 6 years. what is the annual depreciation expense for this car? annual depreciation expense = $?

a certain car was purchased for $36,000. the car has a resale value of $28,200 after a useful life of 6 years. what is the annual depreciation expense for this car? annual depreciation expense = $?

Answer

Explanation:

Step1: Calculate total depreciation

Total depreciation = Purchase price - Resale value $36000 - 28200=7800$

Step2: Calculate annual depreciation

Annual depreciation = Total depreciation / Number of years $7800\div6 = 1300$

Answer:

$1300$