Jacob Manufacturing purchased a new truck on April 1, 2005 for $30,000. The truck is expected to have a residual value of $2,000 and its useful life is anticipated to be seven years. The company uses the straight-line method of depreciation. Jacob Manufacturing has a December 31** year-end. 1. Calculate the depreciation expense for the first year (December 31, 2005) and second year December 31 2006