Equipment acquired at the beginning of the year at a cost, Accounting Basics

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Equipment acquired at the beginning of the year at a cost

Question: Equipment acquired at the beginning of the year at a cost of $26,800 has an estimated residual value of $2,400 and an estimated useful life of four years. Determine the following:

(a) The depreciable cost

(b) The straight-line rate

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Accounting Basics: Equipment acquired at the beginning of the year at a cost

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Accounting Basics: Equipment acquired at the beginning of the year at a cost

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