If the depreciation on year 8 is 15,282 and the book value on the same year is 424,684 and money is worth 6.31%, find the salvage value of the equipment with expected life of 13 years.

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter9: Capital Budgeting And Cash Flow Analysis
Section9.A: Depreciation
Problem 1P
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If the depreciation on year 8 is 15,282 and the book value on the same year is 424,684 and money is worth 6.31%, find the salvage value of the equipment with expected life of 13 years.

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