math, depreciation

A workcenter system purchased at a cost of $60,000 in 2015 has a scrap value of $12,000 at the end of 4 years. If the straight-line method of depreciation is used.
a) find the rate of depreciation.
b) Find the linear equation expressing the system's book value at the end of t years
c) Find the system's book value at the end of the third year

I need someone to check my work to make sure I'm on the right page.
My answers:
A) m= 60,000-12,000/0-4 =-48,000/4=-12,000
rate of depreciation = -12,000.

B) I used point slope form for this one.
v-60,000=-12,000(x+0)
v-60,000+60,000=-12,000x+0
v=-12,000x+0

C) V= -12,000(3)+0
=-36,000

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  1. Please read this carefully and think about it. It starts out at 60 k and goes down, line slopes down from y = 60 at x = 0 to y = 0 at x = 5

    (60-12)/4 = 12 thousand /year if straight line (agree with you)
    so m, slope = -12,000 per year

    b) value = 60,000 - 12,000 t
    in form y = m x + b that is
    y = -12,000 x + 60,000
    Yours is not 60,000 at t (or x) = 0

    c) if t = 3
    value = 60,000 - 12,000 *3
    = 60,000 - 36,000
    = 24,000

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    Damon

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