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On January 1, Year 1, Friedman Company purchased a truck that costs $29,000, The Truck had an expected useful life of 200,00 miles over 8
On January 1, Year 1, Friedman Company purchased a truck that costs $29,000, The Truck had an expected useful life of 200,00 miles over 8 years and a $7,000 salvage value. During Year 2, Friedman drove the truck 37,000 miles. The company uses the units-of-production method. The amount of depreciation expense recognized in Year 2 is:
A. $5,365
B. $4,070
C. $2,750
D. $3,625
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