A machine costs the company $97,000 and its effective life is estimated to be 12 years. If the scrap realizes $2,000 only, what amount should be retained out of profits at the end of each year to accumulate at compound interest at 5% per annum?
A machine costs the company $97,000 and its effective life is estimated to be 12 years. If the scrap realizes $2,000 only, what amount should be retained out of profits at the end of each year to accumulate at compound interest at 5% per annum?
