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On January 1, 2018, Verun Inc. purchases a new vehicle for $32,000 cash. It plans to use the truck for 4 years, after which time

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On January 1, 2018, Verun Inc. purchases a new vehicle for $32,000 cash. It plans to use the truck for 4 years, after which time it expects to sell the truck for $5,000. The company's fiscal year end is December 31st. Required: Prepare depreciation schedule using Double-Declining Balance method for years 2018, 2019 and 2020. (6 marks)

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