On January 1, 2016, Major purchased a machine that had an estimated useful life of six years and $5,000 residual value. The depreciation on this machine was $2,700 in 2017 using the 150%-declining-balance depreciation method.
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Required:
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Compute the cost of this machine.
What will be an ideal response?
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| x | = Book value, 1/1/2017 |
| $2,700 | = x (0.25) |
| $10,800 | = x |
| y | = Original cost, 1/1/2016 |
| $10,800 | = y? 0.25y |
| $14,400 | = y |
Business
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