A machine has a life of 25 years, costs $250,000, and has a salvage value of $20,000 using straight-line depreciation. What depreciation rate will result in the same book values for both the declining-balance and straight-line methods at the end of year 15? The depreciation rate that will result in the same book values for both the declining-balance and straight-line methods at the end of year 15 is approximately percent. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

A machine has a life of 25 years, costs $250,000, and has a salvage value of $20,000 using straight-line depreciation. What depreciation rate will result in the same book values for both the declining-balance and straight-line methods at the end of year 15? The depreciation rate that will result in the same book values for both the declining-balance and straight-line methods at the end of year 15 is approximately percent. (Round the final answer to two decimal places as needed. Round all intermediate values to six decimal places as needed.)

College Accounting, Chapters 1-27 (New in Accounting from Heintz and Parry)

22nd Edition

ISBN:9781305666160

Author:James A. Heintz, Robert W. Parry

Publisher:James A. Heintz, Robert W. Parry

Chapter18: Accounting For Long-term Assets

Section: Chapter Questions

Problem 3CE

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