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Cambridge company purchased a truck on January 1, 2018. Cambridge paid $19,000 for the truck. The truck is expected to have $3,000 residual value and
Cambridge company purchased a truck on January 1, 2018. Cambridge paid $19,000 for the truck. The truck is expected to have $3,000 residual value and a 5 year life. Cambridge has a December 31 fiscal year end. Using the double-declining balance method, how much is the 2019 depreciation expense? Hint: What is the year 2 depreciation amount?
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