Novak Company acquires a delivery truck at a cost of $ 56,000 on January 1, 2022. The truck is expected to have a salvage value of $ 8.000 at the end of its 4-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method. Year 1 Year 2 Annual depreciation expense $ $ e Textbook and Media Save for Later Attempts: 1 of 5 used Submit