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A truck costing $25,000 with a residual value of $5,000 was purchased by Diamond Corporation. The truck's estimated life is 10 years. What's the book

A truck costing $25,000 with a residual value of $5,000 was purchased by Diamond Corporation. The truck's estimated life is 10 years. What's the book value at the end of Year 2 using the declining-balance method? Assume a depreciation rate of twice the straight-line rate.

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