On January 1, Year 1, Marino Moving Company paid $48,000 cash to purchase a truck. The truck was expected to have a four year useful life and an $8,000 salvage value. Marino uses the straight-line method. On January 1, Year 3, Marinos accounting records contained the balances shown in the following financial statements mode. Picture Also, on January 1, Year 3 the company paid $10,000 to replace an engine that extended the useful life of the asset from a total of four years to a total of seven years. Based on this information, the balance in the amount of depreciation expense shown on the Year 3 income statement is

Balance Sheet Cash Flow Assets Income Statement Statement Rev.Exp. Net Inc. Cash + Truck - Acc. Dep Liab. Equity| 25,000 48,00020,000 NA 53,000 NA NA NA