chegg Question 1 [4 points] On November 1, 2014, Allarco Inc. purchased new trucks for $100,000. The trucks were expected to last five years and have a residual value of $10,000. Calculate depreciation expense for 2014 and 2015 to the nearest month using the straight-line method, and the double-declining-balance method. Allarco Inc. has a December 31 year-end. Round final calculations to the nearest dollar. For simplicity, assume the truck is depreciated as an individual item and will not be broken down into its parts and depreciated.

Question 1 [4 points] On November 1, 2014, Allarco Inc. purchased new trucks for $100,000. The trucks were expected to last five years and have a residual value of $10,000. Calculate depreciation expense for 2014 and 2015 to the nearest month using the straight-line method, and the double-declining-balance method. Allarco Inc. has a December 31 year-end. Round final calculations to the nearest dollar. For simplicity, assume the truck is depreciated as an individual item and will not be broken down into its parts and depreciated. Year Straight-Line Double-Declining-Balance 2014 2015