Problem:
Computer Service Company bought a laser printer for $15,000. The machine is expected to operate for 28,000 hours, after which its trade-in value will be $1,000. Find the unit depreciation for the printer. The first year the machine was operated 4,160 hours. Find the depreciation for the year.
A new minivan was purchased for $24,400 and currently has an end-of-year book value of $20,080 after one year of operation. Find the year's rate of depreciation. What will be the end-of-year book value of this minivan after two years if the rate of depreciation remains the same?