Show My Work (Optional)
Submit Answer
17.
DETAILS
BRECMBC9 17.I.004.
MY NOTES
ASK YOUR TEACHER
Calculate the total cost, total depreciation, and annual depreciation (in \$) for the following assets by using the straight-line method. (Round your answers to the nearest cent.)
\begin{tabular}{|c|c|c|c|c|c|c|c|}
\hline Cost & \begin{tabular}{c}
Shipping \\
Charges
\end{tabular} & \begin{tabular}{c}
Setup \\
Charges
\end{tabular} & \begin{tabular}{c}
Total \\
Cost
\end{tabular} & \begin{tabular}{c}
Salvage \\
Value
\end{tabular} & \begin{tabular}{c}
Estimated \\
Useful Life \\
(years)
\end{tabular} & \begin{tabular}{c}
Total \\
Depreciation
\end{tabular} & \begin{tabular}{c}
Annual \\
Depreciation
\end{tabular} \\
\hline$\$ 800,000$ & 0 & $\$ 15,400$ & $\$$ & & $\$ 100,000$ & 13 & $\$ \square$ \\
\hline
\end{tabular}

Step 1 ：Define the given values: the purchase cost is \$800,000, the shipping charges are \$0, the setup charges are \$15,400, the salvage value is \$100,000, and the estimated useful life is 13 years.

Step 2 ：Calculate the total cost by adding the purchase cost, shipping charges, and setup charges. This gives a total cost of \$815,400.

Step 3 ：Calculate the total depreciation by subtracting the salvage value from the total cost. This gives a total depreciation of \$715,400.

Step 4 ：Calculate the annual depreciation by dividing the total depreciation by the estimated useful life. This gives an annual depreciation of approximately \$55,030.77.

Step 5 ：The total cost of the asset is \$815,400. The total depreciation of the asset is \$715,400. The annual depreciation of the asset is approximately \$55,030.77. Therefore, the answers are \(\boxed{815400}\), \(\boxed{715400}\), and \(\boxed{55030.77}\).