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A company purchased a new delivery van at a cost of $56,000 on January 1. The delivery van is estimated to have a useful
A company purchased a new delivery van at a cost of $56,000 on January 1. The delivery van is estimated to have a useful life of 5 years and a salvage value of $4,400. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?
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Intermediate Accounting
Authors: Beechy Thomas, Conrod Joan, Farrell Elizabeth, McLeod Dick I
Volume 1, 6th Edition
1259103250, 978-1259103254, 978-0071339476
