BizTech bought a new building for its headquarters in the year 2015. The building cost 795,649 dollars and the company spent an additional 68,662 dollars renovating the space before it was put into service. The building has been in use since October 21st, 2015. BizTech forecasted that in 2040 the building would have a net salvage value of $1,000,000. Estimate the Remaining Book Value of the building in 2029 if BizTech decides to sell the building on February 15th 2029 for $1,250,633. (note: round your answer to two decimal places; do not include spaces or dollar signs; do not round the recovery factors from the depreciation tables and make sure to include plenty of digits in your calculations).

BizTech bought a new building for its headquarters in the year 2015. The building cost 795,649 dollars and the company spent an additional 68,662 dollars renovating the space before it was put into service. The building has been in use since October 21st, 2015. BizTech forecasted that in 2040 the building would have a net salvage value of $1,000,000. Estimate the Remaining Book Value of the building in 2029 if BizTech decides to sell the building on February 15th 2029 for $1,250,633. (note: round your answer to two decimal places; do not include spaces or dollar signs; do not round the recovery factors from the depreciation tables and make sure to include plenty of digits in your calculations).

Name: TABLE 5: Straight Line Depreciation for Residental Real Property (27.
Uploaded: 2024-03-05T11:50:36.000Z
Channel: Bartleby
Description: TABLE 5: Straight Line Depreciation for Residental Real Property (27.5 year life)Month PlacedInto Service1: Jan2: Feb3: Mar4: Apr5: May6: JunYear 1Years 2-27034848036364031818.036364028788.036364025758.036364022727.0363640196970363640166670363640136

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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