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Sheridan Ltd, purchased a delivery truck on January 1, 2021, at a cost of $82,400. The truck is expected to have a residual value of
Sheridan Ltd, purchased a delivery truck on January 1, 2021, at a cost of $82,400. The truck is expected to have a residual value of $7,520 at the end of its 4-year useful life. Sheridan has a December 31 year end. Use the diminishing-balance method and assume the* depreciation rate is equal to double the straight-line rate. (a) Calculate the depreciation for each year of the truck's life. (Round answers to 0 decimal places, e.g. 5,275.) Depreciation expense for :
2021
2022
2023
2024
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