Answer:
$8,800
Explanation:
Calculation for what is the annual depreciation over an economic life of 25 years
First step is to calculate the value of the building value
Value of the building value=$250,000 - $30,000
Value of the building value= $220,000
Now let calculate the annual depreciation over an economic
Annual depreciation =$220,000 ÷ 25 years
Annual depreciation = $8,800
Therefore the annual depreciation over an economic life of 25 years will be $8,800
