Code Problem 3 in Python 2.

Problem 3

Depreciation spreads the deductible cost of a fixed asset over its estimate life. The formula uses original cost c, salvage value s, and estimate life l:
dep(c, s, l) = c-s/l
dep(20000, 1000, 5) = 20000-1000/5 = 3800.0000
The annual depreciation expense is $3,800. Again if you would want to make your answers better, you can use the round(value, places) function. Where value is the value you wish to round and places is the number of places you wish to round to.

Please code in Python 2 and add “comments” explaining what the code is doing.