A tax- and duty-free importation of a 30 HP sandmill (for paint manufacturing) cost P 360,000, CIF Manila. Bank charges, arrastre and brokerage cost P 5,000. Foundation and installation costs were P 25,000. Other incidental expenses amounted to P 20,000. Salvage value of the mill is estimated to be P 60,000 after 20 years. Find the appraisal value of the mill, using straight-line depreciation, at the end of: a. 10 years b. 15 years

3 Question 3 options: At any point in time,  the cost of equipment less any depreciation to date is known as

7. An asset has an initial cost of $80,000, a salvage value of $10,000, and a depreciation life of 8 years. a) Determine the book value for year 3 using straight-line depreciation. b) Determine the depreciation for year 3 using double declining balance depreciation. Determine the equivalent annual capital recovery_plus a return of 10% for year 3, assuming double declining balance depreciation. c)

< A crane rental company has acquired a new heavy-duty crane for $210,000. 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 9-year life is $20,000 If the crane is rented an average of 101 days per year, what is the depreciation rate per rental? The depreciation is $ per day of rent. (Round to the nearest dollar.) E