A small truck is purchased for $62,000. It is expected to be of use to the company for 6 years, after which it will be sold for $8,000. Determine the depreciation deduction and the resulting unrecovered investment during each year of the assets life.

Use declining balance depreciation using a rate that ensures the book value equals the salvage value: EOY Depreciation Deduction Unrecovered Investment 0 1 $ $ N $ $ 3 $ $ $ 4 $ $ 5 $ $ 6 $ $