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A truck was acquired on January 31, 2016. Assume the company has December 31 as its year-end date. Cost of asset is $120,000. Useful life

A truck was acquired on January 31, 2016. Assume the company has December 31 as its year-end date. Cost of asset is $120,000. Useful life is 4 years. What is the depreciation expense for each year the truck is in service using the following methods?

Double declining balance method; and the straight-line method

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