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On January 1, 2016, Tangerine Company purchased a new truck for $58,800. Its estimated useful life is seven years or 200,000 miles. The truck's expected
On January 1, 2016, Tangerine Company purchased a new truck for $58,800. Its estimated useful life is seven years or 200,000 miles. The truck's expected salvage value is $2,800. During 2016, the truck was driven 20,000 miles. Assuming units-of-production depreciation, 2016 depreciation expense is.
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