What is the annual depreciation percentage for an asset with a 10-year life under the straight-line method?

To determine the annual depreciation percentage for an asset using the straight-line method, you need to divide 100% by the useful life of the asset in years. In this case, with a useful life of 10 years, the calculation is:

100% / 10 years = 10% per year.

This means that each year, the asset will depreciate by 10% of its total value until it reaches a net book value of zero at the end of its useful life. The straight-line method is commonly used because it simplifies the accounting process and provides a consistent depreciation expense over the asset's life.

Other percentages listed may come from different depreciation methods or assumptions, but for the straight-line method, the correct and most straightforward answer is indeed 10%.