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On january3 ,2018 , Fast Delivery Service purchased a truck at a cost of 62,000 . Before placing the truck in service, fast spent 4,000
On january3 ,2018 , Fast Delivery Service purchased a truck at a cost of 62,000 . Before placing the truck in service, fast spent 4,000 painting it, 1,200 replacing tires, and 2,800 overhauling the engine. The truck should remain in service for five years and have a residual value of 5,000 . The truck's annual mileage is expected to be 28,000 miles in each of the first four years and 18,000 miles in the fifth year miles -130,000 in total. In deciding which depreciation method to use, , 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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