On January 1, 20X2, Zenco Motors, which uses UOP depreciation, purchases a delivery van for $30,000 with an estimated useful life of 120,000 miles and a residual value of $6,000. Miles driven are as follows: Year Miles 20X2 22,000 20X3 18,000 20X4 20,000 20X5 30,000 20X6 30,000 What is the depreciation rate?
On January 1, 20X2, Zenco Motors, which uses UOP depreciation, purchases a delivery van for $30,000 with an estimated useful life of 120,000 miles and a residual value of $6,000. Miles driven are as follows: Year Miles 20X2 22,000 20X3 18,000 20X4 20,000 20X5 30,000 20X6 30,000 What is the depreciation rate?
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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What is the depreciation rate?
Transcribed Image Text:On January 1, 20X2, Zenco Motors, which uses UOP
depreciation, purchases a delivery van for $30,000
with an estimated useful life of 120,000 miles and a
residual value of $6,000. Miles driven are as follows:
Year Miles
20X2 22,000
20X3 18,000
20X4 20,000
20X5 30,000
20X6 30,000
What is the depreciation rate?
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