Cullumber Ltd. purchased a delivery truck on January 1, 2018, at a cost of $72,960. The truck is expected to have a residual value of $7,750 at the end of its 4-year useful life. Cullumber has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate.

a) Calculate the depreciation for each year of the trucks life.

b) Calculate the depreciation in total over the trucks life.

Brief Exercise 9-6 a-b Cullumber Ltd. purchased a delivery truck on January 1, 2018, at a cost of $72,960. The truck is expected to have a residual value of $7,750 at the end of its 4-year useful life. Cullumber has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate. Calculate the depreciation for each year of the truck's life. (Round answers to O decimal places, e.g. 5,275. Depreciation expense 2018 2019 2020 2021 LINK TO TEXT Calculate the depreciation in total over the truck's life Total depreciation expense