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Iverson Company purchased a delivery truck for $45,000 on September 1, 2016. The truck was assigned an estimated useful life of 5 years and has

Iverson Company purchased a delivery truck for $45,000 on September 1, 2016. The truck was assigned an estimated useful life of 5 years and has a residual value of $10,000. Required: Compute depreciation expense using the double-declining-balance method for the year 2017.

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