A truck was purchased for $180,000 and it was estimated to have a $36,000 salvage value at

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A truck was purchased for $180,000 and it was estimated to have a $36,000 salvage value at the end of its useful life. Monthly depreciation expense of $3,000 was recorded using the straight-line method. The annual depreciation rate is.

please explain how you find annual depreciation rate here

Related Book For answer-question

Intermediate Accounting

ISBN: 978-0470587287

14th Edition

Authors: kieso, weygandt and warfield.

Posted Date: Jun 27, 2024 11:07 AM

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A truck was purchased for $180,000 and it was estimated to have a $36,000 salvage value at

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Intermediate Accounting

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