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Ivanhoe Ltd. purchased a delivery truck on January 1, 2021, at a cost of $83,040. The truck is expected to have a residual value of

Ivanhoe Ltd. purchased a delivery truck on January 1, 2021, at a cost of $83,040. The truck is expected to have a residual value of $8,540 at the end of its 4-year useful life. Ivanhoe has a December 31 year end.

(a) Calculate the depreciation using the straight-line method for each year of the truck's life.

(b) Calculate the depreciation using the straight-line method in total over the truck's life.

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