a certain car was purchased for $21,100. the car has a resale value of $13,500 after a useful life of 8…

a certain car was purchased for $21,100. the car has a resale value of $13,500 after a useful life of 8 years. what is the book value of this car after 2 years? annual depreciation expense = $950 book value = $? round to the nearest hundredth.

a certain car was purchased for $21,100. the car has a resale value of $13,500 after a useful life of 8 years. what is the book value of this car after 2 years? annual depreciation expense = $950 book value = $? round to the nearest hundredth.

Answer

Explanation:

Step1: Identify initial value and depreciation

The car's initial value is $21100 and annual depreciation is $950.

Step2: Calculate total depreciation after 2 years

Total depreciation = Annual depreciation×Number of years. So, $950×2 = 1900$.

Step3: Calculate book - value

Book value=Initial value - Total depreciation. So, $21100−1900 = 19200$.

Answer:

$19200.00$