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On September 1, 2024 (not January 1) Entity G purchased a GMC Hummer EV for $105,000. The useful life was expected to be 6 years,
On September 1, 2024 (not January 1) Entity G purchased a GMC Hummer EV for $105,000. The useful life was expected to be 6 years, with an expected salvage value of $30,000. Entity G uses straight-line depreciation. What is the amount of depreciation expense on the truck for 2024 (as of December 31,2024 ). Round to the nearest dollar if necessary. $12,500 $0 $4,167 $17,500
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