Depreciation information for Buckingham Ltd. is given in BE9.4. Assuming the delivery truck was purchased on May 1 instead of January 1, calculate the depreciation expense using the diminishing-balance method for 2018 and 2019. Assume the depreciation rate is equal to one time the straight-line rate.

In BE 9.4

Buckingham Ltd. purchased a delivery truck on January 1, 2018, at a cost of $80,000. The truck is expected to have a residual value of $8,000 at the end of its four-year useful life. Buckingham has a December 31 year end. Calculate the depreciation using the straight-line method