Straight Line Depreciation

A machine shop purchases a piece of equipment that costs $8,000. It has a salvage value of $500, and a 10 year lifespan. Calculate the straight line depreciation.

Hint
The straight line depreciation formula is:
$$$D_{j}=\frac{C-S_{n}}{n}$$$
where $$C$$ is the initial cost, $$n$$ is the life span, and $$S_n$$ is the expected salvage value in year $$n$$ .
Hint 2
The answer should be in dollars per year.
The straight line depreciation formula is:
$$$D_{j}=\frac{C-S_{n}}{n}$$$
where $$C$$ is the initial cost, $$n$$ is the life span, and $$S_n$$ is the expected salvage value in year $$n$$ .
$$$D_{j}=\frac{\$8,000-\$500}{10\:year}=\$750/yr$$$
The equipment is depreciating $750 every year.
$750 per year