On January 1, Year 1, Friedman Company purchased a truck that cost $47,000. The truck had an expected useful life of 8 years and an $8,000 salvage value. Friedman uses the double-declining balance method. What is the book value of the truck at the end of Year 1? (Do not round intermediate calculations.) -26 Multiple Choice $27.250 $35.250 $37,250 $29,250