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Calla Lily Nursery purchased a delivery truck on July 1, 20X1, for $71,000. The truck is expected to have a useful life of 5 years

Calla Lily Nursery purchased a delivery truck on July 1, 20X1, for $71,000. The truck is expected to have a useful life of 5 years and a residual value of $9,800. The company uses the straight-line method of depreciation. What is the amount of depreciation expense on the truck for the year ended December 31, 20X1? Question 75 options: $6,120 $7,140 $12,240

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