On January 1,Year 1, Frank Company purchased a delivery truck for a cost of $50,000. The equipment has a residual value of $5,000 and will be depreciated over 5 years.

Calculate the:

depreciation expense to be recorded each year

accumulated depreciation balance at the end of each year

net book value at the end of each year

	Depreciation Expense	Accumulated Depreciation	Net Book Value (Cost accumulated depreciation)
Year 1
Year 2
Year 3
Year 4
Year 5