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Required information [The following information applies to the questions displayed below.] On January 1, Year 1, a company purchased a delivery vehicle for $44,000. At
Required information [The following information applies to the questions displayed below.] On January 1, Year 1, a company purchased a delivery vehicle for $44,000. At the end of its five-year service life, it is estimated that the vehicle will be worth $5,000. During the five-year period, the company expects to drive the vehicle 146,000 miles. Required: Calculate annual depreciation for the five-year life of the vehicle using each of the following methods. 2. Double-declining balance. Note: Round your answers to the nearest whole dollar amount. Year Year 1 Depreciation Year 2 Year 3 Year 4 Year 5 Total 0
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