A $20,000, 8%, 9-month note payable requires an interest payment of $1,200 at maturity. Select one: True False Foyle Company purchased a new van for floral deliveries on January 1, 2010. The van cos $32,000 with an estimated life of 5 years and $8,000 salvage value at the end of its usefu life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2010? Select one: a. $6,400 b. $4,800 c. $9,600 d. $12,800