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Could someone please explain the math on part 2 and 3 of this problem? Im pretty sure my answer for part 1 is correct. Straight-Line,
Could someone please explain the math on part 2 and 3 of this problem? Im pretty sure my answer for part 1 is correct. Straight-Line, Decdining-Balance, and Sum-of-the-Years-Digits Methods A light truck is purchased on January 1 at a cost of $29,060. It is expected to serve for eight years and have a salvage value of $4,420. Calculate the depreciation expense for the first and third years of the truck's life using the following methods. If required, round your answers to the nearest cent. Depreciation Expense Year 1 Year 3 3,080 | S( 3,080 | 1. Straight-line 2. Double-declining-balance 3. Sum-of-the-years-digits
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