< A crane rental company has acquired a new heavy-duty crane for $210,000. The company calculates depreciation on this equipment on the basis of number of rentals per year, and the salvage value of the crane at the end of its 9-year life is $20,000 If the crane is rented an average of 101 days per year, what is the depreciation rate per rental? The depreciation is $ per day of rent. (Round to the nearest dollar.) E
< A crane rental company has acquired a new heavy-duty crane for $210,000. The company calculates depreciation on this equipment on the basis of number of rentals per year, and the salvage value of the crane at the end of its 9-year life is $20,000 If the crane is rented an average of 101 days per year, what is the depreciation rate per rental? The depreciation is $ per day of rent. (Round to the nearest dollar.) E
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
![<
A crane rental company has acquired a new heavy-duty crane for $210,000. The company calculates depreciation on this equipment on the basis of number of rentals
per year, and the salvage value of the crane at the end of its 9-year life is $20,000 If the crane is rented an average of 101 days per year, what is the depreciation rate
per rental?
The depreciation is $
per day of rent. (Round to the nearest dollar.)
E](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F92dd192b-2b85-4e23-91c3-a8e23aec13bb%2Fe4019142-f8b8-4cba-9e87-4a143c6ce1bd%2Ffqrvffb.jpeg&w=3840&q=75)
Transcribed Image Text:<
A crane rental company has acquired a new heavy-duty crane for $210,000. The company calculates depreciation on this equipment on the basis of number of rentals
per year, and the salvage value of the crane at the end of its 9-year life is $20,000 If the crane is rented an average of 101 days per year, what is the depreciation rate
per rental?
The depreciation is $
per day of rent. (Round to the nearest dollar.)
E
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