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Riverbed Express acquires a delivery truck at a cost of 77,000. The truck is expected to have a residual value of 7,000 at the end

image text in transcribed Riverbed Express acquires a delivery truck at a cost of 77,000. The truck is expected to have a residual value of 7,000 at the end o 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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