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Lotta Construction purchased a crane for use in its construction company. The crane cost $245,000, ...

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Lotta Construction purchased a crane for use in its construction company. The crane cost $245,000, ...

Lotta Construction purchased a crane for use in its construction company. The crane cost $245,000, has a twenty-year estimated useful life, and will be depreciated using the straight-line method. The only thing remaining to be determined before yearly depreciation expense can be calculated is the estimated residual value. The alternatives are:
   1.   $50,000 estimated residual value.
   2.   $60,000 estimated residual value.
   3.   $70,000 estimated residual value.

REQUIRED:
a.   Calculate the yearly depreciation expense for the new crane under each of the alternatives given.
b.   Which of the three alternatives will result in the highest net income?
c.   How long will the new crane be useful to Lotta Construction?

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ʎddɐɥ Author

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7 years ago

Correct

ediblefruitz

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This helped my grade so much Perfect

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Thanks

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