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ABC Company purchases a delivery truck on 1/1/2017 at a cash price of $25,000. Sales tax paid was $2,000. ABC Company also paid $5,000 for
ABC Company purchases a delivery truck on 1/1/2017 at a cash price of $25,000. Sales tax paid was $2,000. ABC Company also paid $5,000 for a custom paint and lettering job. The estimated salvage value of the truck is $2,000. The estimated useful life of the truck is 5 years. Complete the following table using the STRAIGHT LINE method of depreciation: Depreciable Cost Depreciation Rate Depreciation Expense Accumulated Depreciation Book Value 2017 2018 2019 2020 2021
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