§ 37.13 CALCULATION OF STRAIGHT-LINE METHOD.

   Under the straight-line depreciation method, the basis for an asset is written off evenly over the useful life of the asset. The same amount of depreciation is taken each year. The amount of annual depreciation is generally determined by dividing an asset's depreciable cost by its estimated life.

      ANNUAL DEPRECIATION   =   Cost-salvage value

                     Asset useful life

(Ord. 15-C-21, passed 10-26-21)