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ABC purchases a new fixed asset on January 1 and pays cash. The total cost is $26,000. ABC expects to use the truck for 5

ABC purchases a new fixed asset on January 1 and pays cash. The total cost is $26,000. ABC expects to use the truck for 5 years and that the salvage value of the truck after 5 years will be $6,000. What is the depreciation expense for year 1 using the accelerated (200% double declining balance method)?

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