Nobel Appliances purchased office furniture for a cost of $16,000. The furniture has an estimated life of 10 years and has an annual depreciation of $1,500. What is the salvage value of the furniture?

Question

anonymous · Answer

Salvage value?

anonymous · Answer

The salvage value is the estimated trade-in, resale, or scrap value
at the end of the item’s expected life. The formula is:
Annual Depreciation=Original Cost –Salvage Value Estimated Life

anonymous · Answer

original cost-salvage value/ estimated life

anonymous · Answer

16,000-15,000
/10yrs ?

(10)(1,500)=$15,000 { depriciation

anonymous · Answer

No, it was wrong but thank you for helping

anonymous · Answer

Sorry, could have been [16,000-(16,000-15,000)]\2

anonymous · Answer

Okay I will try that thank you