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Carla Vista Ltd. purchased a delivery truck on May 1, 2024, at a cost of $74,760. The truck is expected to have a residual
Carla Vista Ltd. purchased a delivery truck on May 1, 2024, at a cost of $74,760. The truck is expected to have a residual value of $8,720 at the end of its 4-year useful life. Carla Vista has a December 31 year end. Calculate the depreciation expense using the diminishing-balance method for 2024 and 2025. Assume the depreciation rate is equal to one time the straight-line rate. (Round answers to O decimal places, e.g. 5,275.) 2024 $ Depreciation Expense 2025 $
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