Brief Exercise 10-06 x Your answer is incorrect. Pronghorn Company acquires a delivery truck at a cost of $77,000. The truck is expected to have a salvage value of $6,000 at the end of its 5-year useful life. Assuming the declining- balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method. Year 1 Year 2 Annual depreciation expense I 28,400 17,295 Click if you would like to show Work for this question: Open Show Work