Chichi's Pizza purchased a delivery van on January 1, 2003 for $50,000. In addition, Chichi had to pay sales tax and title fees of to have a five-year useful life and a salvage value of $12,000. Using straight-line depreciation, the depreciation expense for each year would be: Multiple Choice 2,500 7,600 10,000 8,000

Chichi's Pizzo purchased a delivery van on January 1,2003 for $50,000. In addition, Chichi had to pay sales tax and titie 1 to have a five-year useful life and a salvage value of $12,000. Using straight-line depreciation, the depreciation expense for each year would be: Mutiple Choice 2,500 7600 $,000 8.000