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}
Solution
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 \(\boxed{55030.77}\).
