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Brief Exercise 9-4 Gordon Chemicals Company acquires a delivery truck at a cost of $31,600 on January 1, 2017. The truck is expected to have

Brief Exercise 9-4

Gordon Chemicals Company acquires a delivery truck at a cost of $31,600 on January 1, 2017. The truck is expected to have a salvage value of $3,100 at the end of its 5-year useful life. Compute annual depreciation for the first and second years using the straight-line method. (Round answers to 0 decimal places, e.g. 125.)

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