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On January 1st, Tobin Inc. purchased a big truck and estimates that it will last five years and has an estimated salvage value of $5,000.
On January 1st, Tobin Inc. purchased a big truck and estimates that it will last five years and has an estimated salvage value of $5,000. The trucks sticker price was $45,000, but the company was able to purchase it for $35,000. What would the depreciation expense be in the truck's third year using the straight-line method?
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