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Daniel Electrical Co purchased a truck for $38,600 to transport equipment to various job sites in down town Georgetown. For this purpose, storage bins were
Daniel Electrical Co purchased a truck for $38,600 to transport equipment to various job sites in down town Georgetown. For this purpose, storage bins were welded to the truck bed at a cost of $1,700. The estimated useful life of the truck is 5 years with a residual value of $1,000. Using the reducing balance method, the depreciation expense on the truck for its second year of use at a rate of 40% is:
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