A crane rental company has acquired a new heavy-duty crane for $310,000. The company calculates depreciation on this equipment on the basis of number of rentals per year, and the salvage value of the crane at the end of its 11-year life is $40,000. if the crane is rented an average of 115 days per year, what is the depreciation rate per rental? The depreciation is Sper day of rent. (Round to the nearest dollar)

A crane rental company has acquired a new heavy-duty crane for $310,000. The company calculates depreciation on this equipment on the basis of number of rentals per year, and the salvage value of the crane at the end of its 11-year life is $40,000. if the crane is rented an average of 115 days per year, what is the depreciation rate per rental? The depreciation is Sper day of rent. (Round to the nearest dollar)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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