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Please solve it using the sum of the year digits method. Ignore the straight line method. Thank you! Question 1 (6 points In 2017, Leo

Please solve it using the sum of the year digits method. Ignore the straight line method. Thank you! image text in transcribed
image text in transcribed
Question 1 (6 points In 2017, Leo construction traded in a light duty pickup truck that had a book value of $15,000. A new pickup truck having a fair market value of S55,000 was acquired. Because the vendor accepted the old truck as a trade-in, a deal was agreed and Leo construction would pay $35,000 for the new truck. Assume the new truck has a 5-year depreciable life, and an estimated salvage value of $5,000. Using the straight line method to tabulate the annual depreciation amounts and the book value of the pickup truck at the end of each year

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