Respuesta :
The annual depreciation comes out to be $2,268.64/year.
What is annual depreciation?
The standard annual rate at which depreciation is applied to a fixed asset is known as annual depreciation.
If the straight-line approach is applied, this rate remains constant from year to year. If an accelerated method is utilized, annual depreciation will increase in the first few years before declining in the following years.
Depreciation formula:
(Depreciation expense per year = (Cost of the asset - Salvage value) ÷ Useful life.
The given data is -
The cost of assets is given as $23,053.80.
The salvage value is given as $2,636.
Calculation for the depreciation-
Depreciation expense per year = ( $23,053.80cost - $2,636 Salvage) ÷ (9 Year life)
Depreciation expense per year = $2,268.64/year.
Therefore, annual depreciation is $2,268.64/year.
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