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Question: A truck was purchased for $180,000 and it was estimated to have a $36,000 salvage value at the end of its useful life. Monthly

Question:A truck was purchased for $180,000 and it was estimated to have a $36,000 salvage value at the end of its useful life. Monthly depreciation expense of $3,000 was recorded using the straight-line method. The annual depreciation rate is.

please explain how you find annual depreciation rate here

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