Question

A oven for $7,985 with a 5-yr life & residual value of $1,100 was purchased for the store. What is the depreciation expense in yr 2 for the oven? Use the straight-line method.
oobleck
It drops 1/5 of its value each year.
Since it has a salvage value of 1100, that would be
(7985-1100)/5 = ______