7. An asset was purchased for P 150,000 and retired at the end of 15 years with a salvage value of P 5,000. The annual operating cost was P 18,000. Determine the annual cost of the asset based on an interest rate of 8%. A. P 29,536 B. P 35,340 C.P 441,753.55 D. P 369,195.45
7. An asset was purchased for P 150,000 and retired at the end of 15 years with a salvage value of P 5,000. The annual operating cost was P 18,000. Determine the annual cost of the asset based on an interest rate of 8%. A. P 29,536 B. P 35,340 C.P 441,753.55 D. P 369,195.45
Chapter11: Long-term Assets
Section: Chapter Questions
Problem 8PA: Referring to PA7 where Kenzie Company purchased a 3-D printer for $450,000, consider how the...
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![7. An asset was purchased for P 150,000 and retired at the end of 15 years with a salvage
value of P 5,000. The annual operating cost was P 18,000. Determine the annual cost of
the asset based on an interest rate of 8%.
A. P 29,536
B. P 35,340
C. P 441,753.55
D. P 369,195.45](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F30ef5e99-35c8-4dde-8608-4e6846bcbfd7%2F2b2df718-f296-4028-a2b0-da26f3859cc5%2F7en2ybi_processed.png&w=3840&q=75)
Transcribed Image Text:7. An asset was purchased for P 150,000 and retired at the end of 15 years with a salvage
value of P 5,000. The annual operating cost was P 18,000. Determine the annual cost of
the asset based on an interest rate of 8%.
A. P 29,536
B. P 35,340
C. P 441,753.55
D. P 369,195.45
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