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Jackal Energy purchased a transport truck on January 1, 2020, for $246,400 cash. Its estimated useful life is five years or 250,000 kilometres with an
Jackal Energy purchased a transport truck on January 1, 2020, for $246,400 cash. Its estimated useful life is five years or 250,000 kilometres with an estimated residual value of $48,900. Required: Calculate depreciation expense for the year ended December 31, 2020, using each of the following methods: (Do not round intermediate calculations.) Straight-line Double-declining-balance Units-of-production (assume 29,000 kilometres were actually driven in 2020)
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