You purchased a $200,000 combine that will have a salvage va…
You purchased a $200,000 combine that will have a salvage value of $30,000 after years. Calculate the annual depreciation for the first year of useful life using the declining balance method. The depreciation rate is 150% of the straight line rate. Assume you owned the combine for the entire year. Use 2 decimal places in your answer. Do not use $ in your answer.