Posted by investorapprentice on June 07, 2009 at 21:44:48:
In Reply to: RE Licence Textbook is WRONG, I'M RIGHT! posted by investorapprentice on June 07, 2009 at 08:34:23:
Thanks again for all your responses. Here's the book's answer and formula copied verbatim:
$140,000.00 Original Cost
5% Depreciation per Year X 7 Years = 35% Total Depreciation
100% Original Cost - 35% Total Depreciation = 65% Today's Value
$91,000 / 65% (.65) = $140,000 Original Cost