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Bruce Company purchased a tractor for $50,000 on January 2, 2020. The asset has an expected salvage value of $10,000 at the end of its
- Bruce Company purchased a tractor for $50,000 on January 2, 2020. The asset has an expected salvage value of $10,000 at the end of its five-year useful life. What depreciation method is used if depreciation expense is $8,000 in 2021?
- a. Straight-line.
- b. Sum of years’ digits.
- c. Double-declining balance.
- d. Composite.
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Intermediate accounting
Authors: J. David Spiceland, James Sepe, Mark Nelson
7th edition
978-0077614041, 9780077446475, 77614046, 007744647X, 77647092, 978-0077647094
