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Riverbed Company acquires a delivery truck at a cost of $59,000 on January 1,2022 . The truck is expected to have a salvage value of

image text in transcribed Riverbed Company acquires a delivery truck at a cost of $59,000 on January 1,2022 . The truck is expected to have a salvage value of $7,000 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method

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