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Greg tune's purchased a truck on 1 July 2015 for $41000. Greg'sTunes expected the truck to last for five years and to have a residual

Greg tune's purchased a truck on 1 July 2015 for $41000. Greg'sTunes expected the truck to last for five years and to have a residual value of $1000. Suppose Greg'sTunes sold the truck for $30000 on 30June2017, after using the truck for two full years. Assume depreciation for 2016-2017 has been recorded.

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