How to Use
Enter the original purchase price and current salvage value of your boat to calculate the depreciation percentage.
Formula
$$\text{Depreciation} = \frac{P_{o} - P_{s}}{P_{o}} \times 100$$
Where:
- Pₒ = Original Purchase Price
- Pₛ = Current Salvage Value
Example
Given:
- Original Purchase Price: $80,000
- Current Salvage Value: $50,000
Calculation:
$$\text{Depreciation} = \frac{80{,}000 - 50{,}000}{80{,}000} \times 100 = 37.5$$
Result: The boat has depreciated by 37.5%