A company purchased an equivalent for 31000 in January 2017. The estimated useful life of the equipment is 10years with an estimated salvage value of 2000 at the end of 10years the company depreciation it's asets using straight line method. Compute the depreciation expense for the company for the year
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Depreciation = cost - scrap value /life
= 31000-2000/10
= 29000/10
=2900 per year
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