The lost value of equipment over a period of time is call depreciation. The simplest method for calculating depreciation is straight-line depreciation. The annual straight-line depreciation D of an item that costs x dollars with a useful life of n years is D equals=(1/n)x. Find the depreciation for items with the given characteristics.
Cost is $15,961; Life is 16 years
The annual straight line depreciation is approximately ____________$ per year