How to calculate the 'Salvage Value' of a 15-year-old Grove RT crane?
Calculate salvage value by determining current market value (typically 10-25% of original price for 15-year-old cranes), then subtract disposal costs and remaining useful parts value.
For a 15-year-old Grove RT crane, start with the original purchase price and apply standard depreciation rates. Most mobile cranes depreciate 60-80% over 15 years, leaving 20-40% residual value before considering salvage scenarios. Check recent auction results for similar Grove RT models, condition, and hours to establish baseline market value.
Remember: "Market minus Disposal plus Parts" - MDP for salvage value calculation
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