Sheffield Company acquires a delivery truck at a cost of $80,000. 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. Year 1 Year 2 Annual depreciation expense Save for Later Attempts: 1 of 2 used Submit