Homework Help: Business Math

Posted by Jean on Thursday, December 20, 2012 at 6:46pm.

Jim Clinnin purchased a used RV with 19,000 miles for $46,000. Originally the RV sold for $70,000 with a residual value of $20,000. After subtracting the residual value, depreciation allowance per mile was $.86. How much was Jim's purchase price over or below the book value?

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