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Flake Florist buys a delivery van that costs $24,000 on 1/1/21. Flake estimates that it will use the van for 10 years and get 100,000
Flake Florist buys a delivery van that costs $24,000 on 1/1/21. Flake estimates that it will use the van for 10 years and get 100,000 miles out of it, and that will have a $4,000 salvage value at the end of those 10 years. During 2021, Flake drives the van for 16,000 miles. Under the double declining-balance depreciation method, how much depreciation expense will Flake record for 2021?
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