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On September 30, Hoagland Company purchased a $34,000 delivery truck. The company estimates the truck will last six years and have a salvage value of
On September 30, Hoagland Company purchased a $34,000 delivery truck. The company estimates the truck will last six years and have a salvage value of $4,000 at the end of six years. Using the straight-line method of depreciation, compute the amount of depreciation in the first two years of the truck's service.
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