Barefoot Industrial acquired a new delivery truck at the beginning of its current fiscal year. The truck cost $24,000 and has an estimated useful life of four years and an estimated salvage value of $4,400.

a-2. Calculate depreciation expense for each year of the truck's life using Double-declining-balance depreciation. Year Depreciation Expense 1 $ 12,000 2 $ 6,000 2 3 4 b. Calculate the truck's net book value at the end of its third year of use under each depreciation method. Net book value Depreciation method Straight-line depreciation Double-declining-balance depreciation $ 9,300