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On January 1, Year 1, Friedman Company purchased a truck that cost $36,000. The truck had an expected useful life of 8 years and

On January 1, Year 1, Friedman Company purchased a truck that cost $36,000. The truck had an expected useful life of 8 years and an $7,000 salvage value. Friedman uses the double-declining-balance method. What is the book value of the truck at the end of Year 1? Multiple Choice $27,000 $21750 $20.750

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