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Larkspur, Inc. acquires a delivery truck at a cost of $58,000. The truck is expected to have a salvage value of $11,000at the end of

Larkspur, Inc. acquires a delivery truck at a cost of $58,000. The truck is expected to have a salvage value of $11,000at the end of its4-year useful life.

Compute annual depreciation expense for the first and second years using the straight-line method.

year 1 year 2

Annual depreciation expense $ $

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