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2. On Jan. 1, 2015, Jake purchased a delivery truck for $20,000 with an estimated salvage value of $2,000 at the end of its estimated

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2. On Jan. 1, 2015, Jake purchased a delivery truck for $20,000 with an estimated salvage value of $2,000 at the end of its estimated useful life of five years or an estimated useful life of 90,000 miles. The truck were driven 20,000 miles in the first year, 30,000 miles in the second, 10,000 miles in the third, 20,000 miles in the fourth, and 10,000 miles in the fifth. Compute the annual depreciation for 2017 (or 3rd year) under each of the following methods: 1) straight-line, 2) production, 3) double-declining-balance (6 points) 1) Straight-line: (2 points) Final answer: 2) Production: (2 points) Final answer: 3) Double-declining balance: (2 points)

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