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A company purchased a new truck at a cost of $42,000 on July 1, 2009. The truck is estimated to have a useful life of
A company purchased a new truck at a cost of $42,000 on July 1, 2009. The truck is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the truck for the year ended December 31, 2009? A) $3,250. B) $3,500. C) $4,000. D) $6,500. E) $7,000
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