12/16/2023 0 Comments In global city regions urp 3001The boat does not wear out through use, but it does become less desirable for resale as it becomes older.Īssuming that the salmon fishing trip Steve has just completed is typical, what costs are relevant to a decision as to whether he should go on another trip this year? It has an estimated useful life of 10 years, after which it will have no resale value. ![]() *The original cost of the boat was $15,000. $ \scriptscriptstyle\begin \\Ĭost per fishing trip: Depreciation on fishing boat *(annual depreciation of $1,500 ÷ 10 trips ) Boat storage fees (annual rental of $1,200 ÷ 10 trips) Expenditures on fi shing gear, except for snagged lures (annual expenditures of $200 ÷ 10 trips) Snagged fishing lures Fishing license (yearly license of $40 ÷ 10 trips ) Fuel and upkeep on boat per trip Junk food consumed during trip Total cost per fishing trip Cost per salmon ($334 ÷ 2 salmon) $150 120 20 7 4 25 8 $334 $167 Item Total Selling Price State Tax Rate City Tax Rate Total Tax Rate Sales Tax Total Purchase Price Van $ 28, 365.57 6.50 % 1.25 % a. Find the (a) total tax rate, (b) sales tax, and (c) total purchase price.
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