A piece of equipment has a useful life of 7

years with a salvage value of $5000. Knowing that the depreciation allowance

for year 3 is $6023.70, use the sinking fund method of depreciation to find the

depreciation allowance for year 6 assuming a yield rate of 6%(1).

1. Find the original cost of the equipment

in Exercise 22 rounded to the nearest dollar.

2. Find the depreciation allowance for year

6 in Exercise 22 if the sum of the years digits method of depreciation is

used.

3. If a depreciating asset has a $5500

salvage value after k years and the sum of the years digits

A piece of equipment has a useful life of 7

years with a salvage value of $5000. Knowing that the depreciation allowance

for year 3 is $6023.70, use the sinking fund method of depreciation to find the

depreciation allowance for year 6 assuming a yield rate of 6%(1).

1. Find the original cost of the equipment

in Exercise 22 rounded to the nearest dollar.

2. Find the depreciation allowance for year

6 in Exercise 22 if the sum of the years digits method of depreciation is

used.

3. If a depreciating asset has a $5500

salvage value after k years and the sum of the years digits depreciation

allowance in the 8th year is $300, what is the expected life k of the asset?

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