Mercury Package Express Service properly capitalized at $93,598 a large truck it had leased on January 1,2014.The truck has a 14-year useful life.Title to the truck passes to Mercury at the end of the 12-year lease term.Mercury depreciates other similar trucks on the straight-line method with no salvage value.The lease agreement calls for annual payments of $11,500 at the beginning of each year of the lease term.The interest rate implicit in the lease (which is known by the lessee)is 8%.
How much depreciation and interest expense should Mercury record for 2015?
Definitions:
Task Complexity
The degree to which a task is complicated or challenging, often measured by the number of components, the diversity of skills required, and the level of uncertainty involved.
Autonomy Support
Autonomy support refers to a management style where employees are encouraged to take initiative and make decisions within their roles, fostering a sense of ownership and motivation.
Personal Initiative
The proactive and self-starting approach to work that involves taking action beyond what is required or expected.
Autonomy Support
Practices and attitudes that foster a sense of voluntary control over one’s actions, encouraging self-initiation and personal endorsement of one’s behavior.
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