Financial AccountingOn 15 July 2017, Wizard recently bought a new display cabinet to replace an existing

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Financial Accounting

On 15 July 2017, Wizard recently bought a new expose desertion to re-establish an existing

one which was bought 3 years ago at $15,000. It paid $20,000 for the new desertion behind trading in the old one. The trade-in resulted in a mislaying of $4,750. Both desertions bear an estimated helpful animation of 8 years and residual appreciate of $1,000. Wizard uses straight-line regularity to lower its property. Calculate the absorb of the new expose desertion. Show your workings obviously. 

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