1. Convert each of the following estimates of useful life to a straight line depreciation rate, stated as a percentage, assuming that the residual value of the fixed asset is to be ignored: (a)    2 years, (b) 8 years, (c) 10 years, (d) 20 years, (e) 25 years, (f) 40 years, (g) 50 years.
  2. A refrigerator used by a meat processor has a cost of $198,500, an estimated residual value of $30,500, and an estimated useful life of 15 years. What is the amount of the annual depreciation computed by the straight line method?
  3. A diesel powered tractor with a cost of $215,000 and estimated residual value of $27,000 is expected to have a useful operating life of 80,000 hours. During October, the generator was operated 380 hours. Determine the depreciation for the month.