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A truck with an estimated life of four years was acquired on March 31, Year 1, for $11,000. The estimated residual value of the truck
A truck with an estimated life of four years was acquired on March 31, Year 1, for $11,000. The estimated residual value of the truck is $1,000, and the service life is estimated at 100,000 miles. Compute depreciation for Year 1 and Year 2 using the following methods (where appropriate, round depreciation to the nearest month). 1 Year 2 a. Straight-line $ $ b. Fixed-percentage-of-declining-balance (twice the straight-line rate) $ $ *c. Output (miles driven: Year 1,20,000; Year 2, 40,000) $ $ Yea
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