On January 1, our company purchased a truck for $80,000. The estimated useful life of the truck is 4 years. The residual value at the end of 4 years is estimated to be $10,000. What is the depreciation expense for the third year of use if we use the straight-line method?

Group of answer choices

$17,500

$20,000

$35,000

$52,500

The two methods used to estimate bad debt are:

Group of answer choices

FIFO and LIFO

allowance method and double-declining balance method

allowance method and direct write-off method

direct write-off method and units of production method