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Gordon Chemicals Company acquires a delivery truck at a cost of $31,000on January 1, 2017. The truck is expected to have a salvage value of

Gordon Chemicals Company acquires a delivery truck at a cost of $31,000on January 1, 2017. The truck is expected to have a salvage value of $3,000at the end of its4-year useful life.

Compute annual depreciation for the first and second years using the straight-line method

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