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Sheffield Company acquires a delivery truck at a cost of $ 8 0 , 0 0 0 on January 1 , 2 0 2 2

Sheffield Company acquires a delivery truck at a cost of $80,000 on January 1,2022. The truck is expected to have a salvage value of $7,000 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.
\table[[,Year 1,Year 2,],[Annual depreciation expense,$,,]]
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