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A transportation company owns a fleet of vehicles. Calculate the book value of a truck as of July 1st using the double-declining balance (DDB) method,

A transportation company owns a fleet of vehicles. Calculate the book value of a truck as of July 1st using the double-declining balance (DDB) method, given the following information:

  • Original cost: $50,000
  • Salvage value: $5,000
  • Useful life: 5 years

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