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On May 1, 2019, the Campus Company purchased a truck for $42,000. The truck had an estimated useful life of seven years and an estimated

On May 1, 2019, the Campus Company purchased a truck for $42,000. The truck had an estimated useful life of seven years and an estimated salvage value of $3,500. The Campus Company has a December 31st year end and uses the double-declining depreciation method.

Required: What amount of depreciation expense should the Campus Company record for the year ended December 31, 2020 (end of the second year)? Round your answer to the nearest dollar.

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