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Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $25,000 for the truck. The truck is expected to have a $2,500 residual value
Cambridge Company purchased a truck on January 1, 2018. Cambridge paid $25,000 for the truck. The truck is expected to have a $2,500 residual value and a 5-year life.Cambridge has a December 31 fiscal year end. Using the double-declining balance method, how much isthe 2019 depreciation expense?(Enter only whole dollar values.)Hint: what is the year 2 depreciation amount?
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