An office building worth $1 million when completed in 2010 is being depreciated linearly over 25 years. What was the book value of the building in 2012? What will it be in 2024? (Assume the scrap value is $0.)

Answer 1

so, the building loses 1000000/25 = $40,000 per year.
so, its value (in thousands) after x years is
1000 - 40x