#3. Thaxton, Inc., purchased a truck to use for deliveries and is attempting to determine how much depreciation expense would be recognized. The truck cost $20,000 and is expected to have value of $4,000 at the end of its 5-year life. Instructions Determine the amount of depreciation expense that Thaxton should recognize under each of the following depreciation methods in the first and second years of the truck's useful life. A full year's depreciation will be recognized in the first year the truck is used 1. Straight-line. 2. Double-declining-balance. a. Prepare the plant assets section of the balance sheet at the end of the second year of the asset's useful life under the straight-line method, assuming the truck is the only plant asset owned by Thaxton, Inc. b. By which of the three methods is it not possible to determine the actual amount of depreciation expense prior to the end of each year? What uncertainty causes this to be true? c