Question
Concord Corporation purchased a truck at the beginning of 2020 for $108500. The truck is estimated to have a salvage value of $4900 and a
Concord Corporation purchased a truck at the beginning of 2020 for $108500. The truck is estimated to have a salvage value of $4900 and a useful life of 122000 miles. It was driven 19000 miles in 2020 and 27000 miles in 2021. What is the depreciation expense for 2021? (Round intermediate calculations to 3 decimal places, e.g. 0.245.)
$6907
$22923
$25097
$39054
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Intermediate Accounting Volume 1
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
12th Canadian edition
119-49633-5, 1119496497, 1119496330, 978-1119496496
