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Omaha Beef Company purchased a delivery truck for $66,000. The residual value at the end of an estimated eight-year service life is expected to be
Omaha Beef Company purchased a delivery truck for $66,000. The residual value at the end of an estimated eight-year service life is expected to be $12,000. The company uses straight-IIne depreclation for the first six years. In the seventh year, the company now belleves the truck will be useful for a total of 10 years (four more years), and the residual value will remain at $12,000. Calculate depreciation expense for the seventh year
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