A company buys a machine for $100,000. Its estimated life is 12 years and scrap value is $5000. What amount is to be retained every year from the profit and allowed to accumulate at 5% C.I. for buying a new machine at the same price after 12 years?
A company buys a machine for $100,000. Its estimated life is 12 years and scrap value is $5000. What amount is to be retained every year from the profit and allowed to accumulate at 5% C.I. for buying a new machine at the same price after 12 years?
