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QUESTION
A new truck is purchased on January 1, 20X6. The truck cost $10,000, has a 5-year life, and a $2,000 residual value.
- A new truck is purchased on January 1, 20X6. The truck cost $10,000, has a 5-year life, and a $2,000 residual value. Given a December 31 year-end, and use of the double-declining balance method, how much is 20X7 depreciation expense?
