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On January 1 , Year 1 , XYZ Company paid $ 6 0 , 0 0 0 cash to purchase a truck. The truck has

On January 1, Year 1, XYZ Company paid $60,000 cash to purchase a truck. The truck has a $5,000 salvage value and a 4-year useful life. XYZ uses the double-declining-balance method. How much depreciation expense would XYZ report on its Year 2 income statement?
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