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Pharoah Company purchased a delivery truck for $44,000 on July 1, 2025. The truck has an expected salvage value of $2,000, and is expected to

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Pharoah Company purchased a delivery truck for $44,000 on July 1, 2025. The truck has an expected salvage value of $2,000, and is expected to be driven 100,000 miles over its estimated useful life of 8 years. Actual miles driven were 15,000 in 2025 and 12,000 in 2026. Pharoah uses the straight-line method of depreciation. Show how the truck would be reported in the December 31,2026 , balance sheet

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