Brief Exercise 9-13 Gordon Chemicals Company acquires a delivery truck at a cost of $32,400 on January 1, 2017. The truck is expected to have a salvage value of $2,400 at the end of its 4-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. First Year Second Year Annual depreciation under declining balance methods