In anticipation of chester corporation’s new product chele, the company purchased new plant and equipment for $24,400,000. the plant and equipment is expected to be used for 15 years, and has a planned salvage value of $0. assuming straight-line depreciation, how much will chele expense in depreciation next year?

Chele expense in depreciation next year will be $1,626,666.67

Explanation:

Chester Corporation uses the straight-line method of depreciation, Depreciation Expense each year is calculated by following formula:  

Annual Depreciation Expense = (Cost of the asset − Salvage Value )/Useful Life  

The asset (plant and equipment) have cost of $24,400,000 and salvage value of $0

The plant and equipment is expected to be used for 15 years.

Annual Depreciation Expense = ($24,400,000 - $0)/15 = $1,626,666.67

Chele expense in depreciation next year will be $1,626,666.67

the law, public safety, corrections, and security cluster prepares people for careers in planning, managing, and providing legal, public safety, protective services and homeland security, including professional and technical support services.

answer///a coalition;