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Marigold Company acquires a delivery truck at a cost of $79,000 on January 1_. 2022. The truck is expected to have a salvage value of

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Marigold Company acquires a delivery truck at a cost of $79,000 on January 1_. 2022. The truck is expected to have a salvage value of $3,000 at the end of its 5year useful life. Assumingthe decliningbalance depreciation rate is double the straightline rate, compute annual depreciation Forthe rst and Second years underthedecliningbalance method. Year 1 Year 2 Annual depreciation expense $ $

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