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Oxford Enterprises acquired a delivery truck on January 4, 2003. The total cost of the truck was $87,000. Oxford estimated that the truck would be
Oxford Enterprises acquired a delivery truck on January 4, 2003. The total cost of the truck was $87,000. Oxford estimated that the truck would be used for 5 years before being sold for an estimated $16,500. Oxford uses the double-declining balance method of depreciation. The depreciation expense for the year ended December 31, 2005 was: (answer is 12,528)
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