Complete the following problems in Microsoft Excel using the formulas within Excel to compute the answers. Include the answers on a single tab
Asset Valuation
A hospital purchased medical equipment for $150,000 and placed the equipment in service in January of Year 1. The medical equipment has an estimated useful life of 5 years (60 months) and is capitalized and depreciated as such.
(a) What is the equipment's net book value after 20 months?
(b) If after 30 months the asset is sold for $90,000, how much profit is realized by the hospital?