Calculate the Salvage Value of Equipment with a Service Life

question 9

Multiple Choice

Calculate the salvage value of equipment with a service life of 15 years if it was purchased 5 years ago for and depreciates at the rate of 10% per year.

• A)$5 400
• B)$12 000
• C)$24 707
• D)$60 000
• E)$70 859

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Definitions:

Barron v. Baltimore

A landmark Supreme Court case in 1833 which established the principle that the Bill of Rights applied only to the federal government, not to the states.

Supreme Court

The highest federal court in the United States, with ultimate appellate jurisdiction over all U.S. federal courts and over state court cases involving issues of federal law.

Bill of Rights

The first ten amendments to the United States Constitution, guaranteeing essential rights and freedoms to American citizens.

Prior Restraint

is a legal doctrine that prohibits governmental entities from preventing the publication or dissemination of media content before it is published, typically viewed as a violation of free speech rights under the First Amendment.