Exercise 3 (7 marks) a) A delivery truck is purchased by Abdel Company on March 1,2010, at a cost of $100,000. It has an estimated useful life of 8 years. The residual value is estimated to be $4,000 at the end of the asset's useful life. Instructions: Deternine the depreciation expense for the first two years using the straight-line method (Hint: The financial year for Abdel Company is January 1 to December 31)