|
Reasonable Useful Life in Years |
Percentage Depreciation per Year |
|---|---|
|
1 |
Pay nominal amount only |
|
2 |
50 |
|
3 |
33 |
|
4 |
25 |
|
5 |
20 |
|
6 |
17 |
|
7 |
14 |
|
8 |
12 |
|
9 |
11 |
|
10 |
10 |
|
12 |
8 |
|
15 |
7 |
|
20 |
5 |
|
25 |
4 |
|
30 |
3 |
|
50 |
2 |
First determine reasonable useful life of item in years to get yearly depreciation percentage. Then multiply by actual age of item in years to get total amount of depreciation to be applied.
Do not depreciate more than 90 per cent.