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Cullumber Chemicals Company acquires a delivery truck at a cost of $31,600 on January 1,2025. The truck is expected to have a salvage value of

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Cullumber Chemicals Company acquires a delivery truck at a cost of $31,600 on January 1,2025. The truck is expected to have a salvage value of $3,100 at the end of its 5 -year useful life. Compute annual depreciation for the first and second years using the straight-line method

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