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Blossom chemicals company acquires a delivery truck at a cost of $ 3 1 , 0 0 0 on january 1 , 2 0 2

Blossom chemicals company acquires a delivery truck at a cost of $31,000 on january 1,2025. The truck is expected to have a salvage value of $2000 at the end of its 5-year useful life. Assuming the delining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first snd second year under the declining-balance method
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