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The monetary value of an asset is depreciated from 15,000 to 8,000 over five years...

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Question

Finance

The monetary value of an asset is depreciated from 15,000 to 8,000 over five years in monthly stages, using the reducing balance method. What is the monthly depreciation rate?

Answer as a percentage rate and to two decimal places

Select one:

a.

1.01%

b.

1.02%

c.

1.03%

d.

1.04%

e.

None of the above

Answer & Explanation Solved by verified expert
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