Accounting depreciation can best be described as An attempt to reflect the deterioration of an asset over its useful life An attempt to systematically expense the cost of an asset over its useful life An attempt to reflect an asset's current market value An attempt to reflect changes in the asset's replacement cost over its useful life On January 1st, Year 1. Fordham Company purchased a truck that cost $29,000. The truck had an expected useful life of 4 years and a $6,400 salvage value. The Book Value at the beginning of Year 2 assuming that Fordham Company uses the double declining balance method would be? $14,500 $8,100 $29,000 $22,600 $23,350 $7,250