1. On January 1, 2020, Done Inc. purchased a Truck for $64,000. The estimated life of the truck was 8 years, with an estimated residual value of $4,000. Compute the Depreciation expense, Accumulated depreciation, and Book value on this equipment for the years ending on December 31,2020 and 2021. Using the following method:

   Straight-line Method 12/31/21

   Computations

   Depreciation Expense

   Accumulated Depreciation

   Book Value

   Straight-line Method	Computations	Depreciation Expense	Accumulated Depreciation	Book Value
   2021	$(64,000-4,000)/10	$6,000	12,000	52,000

   Straight-line Method	Computations	Depreciation Expense	Accumulated Depreciation	Book Value
   2021	$64,000/8	$8,000	16,000	48,000

   Straight-line Method	Computations	Depreciation Expense	Accumulated Depreciation	Book Value
   2021	$(64,000-4,000)/8	$7,500	15,000	49,000

   Straight-line Method	Computations	Depreciation Expense	Accumulated Depreciation	Book Value
   2021	$(64,000+4,000)/8	$8,500	17,000	47,000