Find the depreciation rate for each of the ten years

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Question: Brown Shipping Company is making a depreciation schedule for one of its new tractor/trailer rigs by using the sum-of-the-years'-digits method of depreciation. The rig has a total cost of $45,000 and is expected to be in service for ten years. The scrap value is approximated to be $3,500. Find the depreciation rate for each of the ten years. Make a sum-of-the-years'-digits depreciation schedule for the first four years' depreciation of the rig.

Reference no: EM131628082

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