Current Attempt in Progress Concord Corporation acquires a delivery truck at a cost of $41,000 on January 1, 2022. The truck is expected to have a salvage value of $5,500 at the end of its 4-year useful life. Compute annual depreciation for the first and second years using the straight-line method. Annual depreciation expense $ Year 1 $ Year 2

Current Attempt in Progress Concord Corporation acquires a delivery truck at a cost of $41,000 on January 1,2022 . The truck is expected to have a salvage value of $5,500 at the end of its 4 -year useful life. Compute annual depreciation for the first and second years using the straight-line method