The residual value of the building is $21,500.
What is residual value?
- Residual value, also called residual value, is the estimated value of an item of property, plant, and equipment at the end of the lease term or useful life.
- In a leasing situation, the lessor uses residual value as one of the primary ways to determine how much the lessee will pay in regular lease payments.
- The salvage value of the car is the value of the car at the end of the lease term.
- Salvage value is also how much you can buy the car at the end of the term.
- When you sign a car lease, we provide a residual percentage so that you can calculate the value of your car at the end of the lease
- Residual value is the estimated value of an asset after it has been fully depreciated.
- Generally, the lease term or useful life of an asset is inversely proportional to its residual value.
To learn more about residual value from the given link :
https://brainly.com/question/27864993
#SPJ4
