In order to study the value of the truck that you use in your construction business, you are using the declining balance method. The truck will be kept only for eight years. If the original cost of the truck is $140,000, and the estimated market value of the truck is $15,000 in year eight. What is the depreciation value in year 3?

Question 5 options:

a)

Between $18,200 and $19,000

b)

Between $20,200 and $21,000

c)

None of the answers are correct

d)

Between $13,200 and $14,000

e)

Between $22,200 and $23,000

f)

Between $21,200 and $22,000