A company purchases a new truck on January 1, 2022 and pays cash. The cost of the truck is $26,000. The company expects that they will use the truck for 5 years and that at the end of 5 years, the truck will have a salvage value of $6,000. What is the depreciation expense for 2024 using the STRAIGHT LINE METHOD? $4.000 O $2,000 $10,400 O $5,200 A company purchases a new truck on January 1, 2022 and pays cash. The cost of the truck is $26,000. The company expects that they will use the truck for 5 years and that at the end of 5 years, the truck will have a salvage value of $1,000 Assuming the company uses the straight line method of depreciation expense, what is the impact to the 2022 income statement from the above events? Income increases by $4,000 Income decreases by $4,000 Income increases by $5,000 Income decreases by $5,000