A company purchased a new truck at a cost of $31577 on Dec 1. The truck is estimated to have a useful life of 8 years and a salvage value of $2979. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the truck during the first year ended January 31? Note: Round the number to 2 decimal places. Note: Avoid using the $ or ','. If your answer is $1x0,000.0258. write it as 10000.03