a certain car was purchased for $15,500. the car has a resale value of $6,750 after a useful life of 7…

a certain car was purchased for $15,500. the car has a resale value of $6,750 after a useful life of 7 years. what is the annual depreciation expense for this car? annual depreciation expense = $?

a certain car was purchased for $15,500. the car has a resale value of $6,750 after a useful life of 7 years. what is the annual depreciation expense for this car? annual depreciation expense = $?

Answer

Explanation:

Step1: Find total depreciation

$15500 - 6750=8750$

Step2: Calculate annual depreciation

$\frac{8750}{7}=1250$

Answer:

$1250$