Nova Scotia Telecom Company had a truck that was purchased on July 7, 2021, for $43,700. The PPE subledger shows the following information regarding the truck: Note: The straight line depreciation taken to nearest month.

Component	Date of Purchase	Deprec. Method	Cost	Est. Residual	Est. Life	Accum. Dep. at Dec. 31/22
Truck body	Jul. 7/21	SL	$	35,000		0	10 yr		$	5,250
Motor	Jul. 7/21	SL		8,700		0	10 yr			1,305
			$	43,700					$	6,555

A customized tool carrier was constructed and permanently fitted to the truck on July 3, 2023, at a cost of $12,400 cash. The tool carrier adds to the economic value of the truck. It will be used for the trucks remaining life and have a zero residual value. The useful life and residual value of the truck did not change as a result of the addition of the tool carrier. Required: 1. Record the installation of the tool carrier assuming it is a component of the truck. 2. Calculate depreciation on the truck and its new component, the tool carrier, for the companys December 31, 2023, and December 31, 2024, year-ends. 3. Calculate the book value of the truck at December 31, 2023 and 2024.