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Fast Transport Company purchased a truck at a cost of $60,000 on January 1, 2008. The truck has an estimated useful life of 9 years

Fast Transport Company purchased a truck at a cost of $60,000 on January 1, 2008. The truck has an estimated useful life of 9 years and a $15,000 residual value.

A. How much depreciation expense should be reported for the year 2012?

B. What is the total amount of accumulated depreciation at December 31, 2012?

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