Quantum Electronic Services paid P = $40,000 forits
Chapter 16, Problem 16.8(choose chapter or problem)
Quantum Electronic Services paid P = $40,000 forits networked computer system. Both tax and bookdepreciation accounts are maintained. The annualtax recovery rate is based on the previous yearsbook value (BV), while the book depreciation rateis based on the original first cost (P). Use the rateslisted below to calculate (a) annual depreciation,and (b) book values for each method.Year of Ownership 1 2 3 4Tax rate, % of BV 40 40 40 40Book rate, % of P 25 25 25 25 Tax depreciation: Dt = Rate BVt1 Book depreciation: Dt = Rate P
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