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Roxy knows that she can deduct the depreciation expense of her ice cream delivery truck from her taxes over the truck’s useful life of 7 years. She can depreciate $2,100 per year. If she paid $19,000 to buy the truck, what is its salvage value?


A. $16,900


B. $8,500


C. $4,300


D. $3,400

Respuesta :

lublana

Answer:

C.$4,300

Step-by-step explanation:

We are given that

Cost of truck=$19,000

Depreciation per year=$21,00

We have to find the salvage value.

Let salvage value=x

Formula:Depreciation per year=[tex]\frac{C.P-salvage\;value}{number\;of\;years}[/tex]

Using the formula

Substitute the values then we get

[tex]2100=\frac{19000-x}{7}[/tex]

[tex]2100\times 7=19000-x[/tex]

[tex]14700=19000-x[/tex]

[tex]x=19000-14700[/tex]

[tex]x=4300[/tex]

Hence, the salvage value=$4,300

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