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On January 3, 2024, Fast Delivery Service purchased a truck at a cost of $75,000. Before placing the truck in service, Fast spent $3,000

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On January 3, 2024, Fast Delivery Service purchased a truck at a cost of $75,000. Before placing the truck in service, Fast spent $3,000 painting it, $2,500 replacing tires, and $7,500 overhauling the engine. The truck should remain in service for five years and have a residual value of $10,000. The truck's annual mileage is expected to be 27,000 miles in each of the first four years and 12,000 miles in the fifth year-120,000 miles in total. In deciding which depreciation method to use, Steven Kittridge, the general manager, requests a depreciation schedule for each of the depreciation methods (straight-line, units-of-production, and double-declining-balance).

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