Question
Plastic Surgery Associates buys surgical lights for $10,000. The lights have an estimated salvage value of $2,000 and a useful life of 5 years. Calculate the straight-line depreciation.
Plastic Surgery Associates buys surgical lights for $10,000. The lights have an estimated salvage value of $2,000 and a useful life of 5 years. Calculate the straight-line depreciation.
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Koala Tutor
Koala Ai Support
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To calculate straight-line depreciation, we need to subtract the salvage value from the purchase price and divide it by the useful life.
Depreciation = (Purchase Price - Salvage Value) / Useful Life
Depreciation = ($10,000 - $2,000) / 5 years
Depreciation = $8,000 / 5 years
Depreciation = $1,600 per year
Therefore, the straight-line depreciation for the surgical lights is $1,600 per year.
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