Lucas, Inc

question 61

Multiple Choice

Lucas, Inc. purchased ten air conditioning units for $5,000 each, with an average expected service life of eight years and a residual value of $700 each. The depreciation rate for the assets, assuming the group depreciation method is used, will be

• A) 10%
• B) 10.75%
• C) 12.5%
• D) 14.5%

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