The total cost of the equipment = $33750 + $3000 + $600 = $37350 Under the straight-line method, depreciation is calculated by the following formula:
Depreciation = Cost - Salvage value / Useful life
Cost = $37350, Salvage value = $13095, useful life = 3
Depreciation = ($37350 - $13095) / 3 = $8085
Under the straight-line method, depreciation remains the same every year.
A salvage tug, recognized also historically as a wrecking tug, is a specialized kind of tugboat this is used to rescue ships that might be in distress or in risk of sinking, or to salvage ships that have already sunk or run aground. Few tugboats have ever been simply completely devoted to salvage work; maximum of the time, salvage tugs perform towing barges, platforms, ships, or acting other utility tugboat paintings.
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