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Oriole Ltd. purchased a delivery truck on January 1,2021 , at a cost of $84,240. The truck is expected to have a residual value of
Oriole Ltd. purchased a delivery truck on January 1,2021 , at a cost of $84,240. The truck is expected to have a residual value of $8,610 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 0 decimal places, e.g. 5,275.)
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