De Chopra A truck was purchased for Y120,000 and it was estimated to have a 24,000 residual value at the end of its useful life. Monthly depreciation expense of V2,000 was recorded using the straight-line method. The annual depreciation rate is a. 20 b.2% c. d. 25% The cost of land does not include a real estate brokers' commission o b. annual property taxes caccrued property taxes assumed by the purchaser OO d. title fees The term "FOB denotes