I am just running on pure exhaustion for a week straight, so really struggling w

Question

I am just running on pure exhaustion for a week straight, so really struggling with my accounting this week. Any help on my questions is greatly appreciated.

P: A refrigerator used by a meat processor has a cost of $93,750, an estimated residual value of $10,000, and an estimated useful life of 25 years.

Q: What is the amount of the annual depreciation computed by the straight-line method? Could you please show your work in answering this, as I do truly want to catch on and learn what I can. Thank you for any help you can give.

Explanation / Answer

http://beginnersinvest.about.com/od/incomestatementanalysis/a/straight-line-depreciation.htm will be a good look at explaining. But: (Purchase Price of Asset - Approximate Salvage Value) ÷ Estimated Useful Life of Asset (93,750-10000)/25=3 350

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