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Jackal Energy purchased a transport truck on January 1, 2023, for $365,700cash. Its estimated useful life is five years or 370,000 kilometres with an estimated

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Jackal Energy purchased a transport truck on January 1, 2023, for $365,700cash. Its estimated useful life is five years or 370,000 kilometres with an estimated residual value of $54,900. Required: Calculate depreciation expense for the year ended December 31, 2023, using each of the following methods: (Do not round intermediate calculations.) a. Straight-line b. Double-declining-balance c. Units-of-production (assume 35,000 kilometres were actually driven in 2023). Analysis component: Which depreciation method will produce the highest profit for Jackal in 2023

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