J&L Logistics purchased a new delivery truck to be used in its business on January 1, 2020. The following expenditures were associated with the purchase Cost of truck $34.000 Freight charges 980 Painting and Lettering 1 100 Motor vehicle license 290 Sales tax 850 Required 1. What is the cost of the truck 2. In connection to your answer al assuming the useful life of the truck is 5 years and a $1.120 salvage value, complete the table below using straight-line method. Provide computation Depreciation Accumulated Book Expense Depreciation Value 2020 2021 2022 2023 2024