Gracie Slick bought a new building for a total cost of 260,000. She is depreciating it over 40 years ...

Gracie Slick bought a new building for a total cost of 260,000. She is depreciating it over 40 years using the sum-of-the-years' digits method. What is the sum-of-the-years' digits depreciation rate fraction for year 15?

Q. 2

Find the trade discount amount for an order of merchandise with a list price of 15,000 less trade discounts of 40/20/10. (Find the single equivalent discount first)

Q. 3

Reese Hardware purchased a new industrial size tool maker for 19,600. Shipping charges were 300 and installation amounted to 480. The tool maker is estimated to have a 5 year life and a residual value of 1,000. Reese elects to use the sum-of-the years' digits method. a. What is the depreciation rate fraction for year 1? b. What is the amount of depreciation for year 2?

Q. 4

Find the net price for an order of merchandise with a list price of 19,000 less trade discounts of 35/25/15. Use the net price, complement method.