A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,020,000

Economics Feb 25, 2022

A draw bench for precision forming and strengthening of carbon steel tubing has a cost of $1,020,000. It will have a salvage value of $80,000 after a useful life of 10 years. Using the formulas, determine the depreciation charge for year 4 and the book value at the end of year 4 if double declining balance depreciation is used.