On March 31, 2016, Logan Trucking purchased a used Kenworth truck at a cost of $45,000. Logan Trucking expects to drive the truck for 5 years and to have a residual value of $5,000. Compute Logan Trucking's depreciation expense on the truck for the year ended December 31, 2016, using the straight-line method. Start by determining the formula needed to calculate straight-line depreciation on the truck through December 31, 2016