4. On December 31, year 0, your company bought a delivery truck for $50,000. The expected useful life is 4 years, with an expected salvage value of $6,000. Based on this information, and assuming straight-line depreciation, calculate the following amounts (do not include dollar signs ($) or commas): (4 points) Depreciation on delivery truck in year 1: $ Ending net book value of delivery truck for year 2: $ Accumulated depreciation at the beginning of year 3: $ . Net book value on Dec. 31, year 4: $ 5. On December 31, year 0, your company bought a delivery truck for $50,000. The expected useful life is 4 years, with an expected salvage value of $6,000. On January 1, year 4, your company sold the truck. Provide the financial statement effects of the sale under the different sale prices below. (3.75 points; 0.25 points per entry) Leave out dollar signs ($) and commas. Sale price PP&E, Gross Accumulated NI (pretax) CFO (ignore CFI Depreciation taxes $17,725 $17,000 $17,430 6. True or false: If a firm changes its assumptions about the useful life of an asset, depreciation in the future will be different from what it would have been absent the change in assumption. (1 point) 7. True or false: If the salvage value is revised upwards, firms must restate prior periods' financial statements to update book values and depreciation amounts. (1 point)