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Oriole Ltd. purchased a delivery truck on January 1, 2018, at a cost of $82,400. The truck is expected to have a residual value of
Oriole Ltd. purchased a delivery truck on January 1, 2018, at a cost of $82,400. The truck is expected to have a residual value of $7,520 at the end of its 4-year useful life. Oriole has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate. Calculate the depreciation for each year of the truck's life. (Round answers to O decimal places, e.g. 5,275.) Depreciation expense 2018 2019 2020 2021
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