What will be the annual depreciation percentage for an asset with a 15-year life under the straight-line method?

To determine the annual depreciation percentage for an asset using the straight-line method, you start by understanding how this method works. The straight-line method essentially spreads the cost of the asset evenly over its useful life.

For an asset with a useful life of 15 years, the formula to calculate annual depreciation percentage is:

[ \text{Annual Depreciation Percentage} = \frac{100%}{\text{Useful Life}} ]

Plugging in the lifespan of 15 years, the calculation would be:

[ \text{Annual Depreciation Percentage} = \frac{100%}{15} \approx 6.67% ]

This means that every year, under the straight-line method, the asset will depreciate by approximately 6.67% of its original value. This approach is straightforward and is widely used for its simplicity and ease of calculation, making it a common choice in accounting for financial reporting purposes.

The other percentages presented do not correspond to the results of the straight-line depreciation calculation for this specific lifespan, thus reinforcing that 6.67% is indeed the correct answer.