A company purchased a new delivery truck for $80,000 on january 1, 2021 and put it into service the same date. The truck has an estimated life of 5 years with an estimated salavge value of $5,000. using this info prepare two depreciation schedules using the straight line method and the double declining balance method.

2 3 Anhandover 50000 on 1,2021 and put it into service the same date. The truck has estimated te of the hand of $5,000 thing this information, prepare two depreciation schedules using the strehe method and the double declining balance method the formula in cells and proper formatting 4 . Straight-line method 10 Depreciation Accumulated Expense Depreciation Book Value ar End of Year Year 1 11 112 13 14 15 16 17 18 19 3 4 5 h. Double-declining balance method Depreciation Accumulated Expense Depreciation Book Value at End of Year Year 1 20 1 2 3 2 3 4 5 ht Bonus question: Which of the above methods is preferable if a companys'objective is to maximize net income? Why? (Click on this text Chapter 7 Depreciation