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On January 1, 2011, Franz Company purchased a truck that cost $30,000. The truck had an expected useful life of 5 years and a $4,000
On January 1, 2011, Franz Company purchased a truck that cost $30,000. The truck had an expected useful life of 5 years and a $4,000 salvage value. The book value of the truck at the end of 2011, assuming that Franz uses the double declining balance method, is: |
$19,600.
$12,000.
$21,360.
$18,000.
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