"A theme park purchased a new, exciting ride and financed it through the manufacturer. The following facts pertain:"
Purchase price $800,000
Delivery cost 50,000
Installation cost 70,000
Cost of trial runs 40,000
Interest charges for first year 60,000
"The straight-line method is to be used. Compute the depreciation on the equipment for the first year assuming an estimated service life of 5 years."