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Oriole Ltd. purchased a delivery truck on May 1, 2021, at a cost of $74840. The truck is expected to have a residual value of
Oriole Ltd. purchased a delivery truck on May 1, 2021, at a cost of $74840. The truck is expected to have a residual value of $8060 at the end of its 4-year useful life. Oriole has a December 31 year end. Oriole records depreciation to the nearest month. Calculate the depreciation expense using the straight-line method for 2021 and 2022. (Round answers to 0 decimal places, e.g. 5,275.)
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