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33) On January 1, Year 1, Friedman Company purchased a truck that cost $53,000. The truck had an expected useful life of 8 years or
33) On January 1, Year 1, Friedman Company purchased a truck that cost $53,000. The truck had an expected useful life of 8 years or 100,000 miles and a $9,000 salvage value. During Year 1, Friedman drove the truck 10,000 miles. During Year 2, Friedman drove the truck 28,000 miles. The amount of depreciation expense recognized in Year 2 assuming that Friedman uses the units-of-production method is: A) $5,500 B) $16,720 C) $6,625 D) $12,320 E) $5,500
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