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8. Montezuma Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3113 and is expected to be driven for eight

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8. Montezuma Inc. purchases a delivery truck for $15,000. The truck has a salvage value of $3113 and is expected to be driven for eight years. Montezuma uses the straight-line depreciation method. Calculate the annual depreciation expense. After three years of recording depreciation, Montezuma determines that the delivery truck will only be useful for another three years and that the salvage value will increase to $4113 Determine the depreciation expense for the final three years of the asset's life, and create the journal entry for year four

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