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Philips Corporation purchased a truck that cost $50,000. The company expected to drive the truck 100,000 miles. The truck had an estimated salvage value of

Philips Corporation purchased a truck that cost $50,000. The company expected to drive the truck 100,000 miles. The truck had an estimated salvage value of $5,000. If the truck is driven 16,000 miles in the current accounting period, which of the following amounts should be recognized as depreciation expense?

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