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Some trucks purchased by a U-Haul franchise should last 7 years. The purchase price was $173,000. Shipping costs were $5,000. The trade-in (salvage value) is
Some trucks purchased by a U-Haul franchise should last 7 years. The purchase price was $173,000. Shipping costs were $5,000. The trade-in (salvage value) is $19,000. Prepare a depreciatic schedule by using the double-declining-balance method for the trucks. (Round dollar amounts to the nearest cent. Round your percentages to six decimal places.) U-Haul Double-DecliningBalance Depreciation Schedule Truck Fleet End of Year Beginning Book Value ($) | Depreciation Rate (%) l Depreciation for the Year ($) Accumulated Depreciation ($) Ending book value ($) $178,000 (new) _ 3;: $l l $l l _x $:] $l l $l l $x $l:l $l l $l l sisX $:] $l l $l l $x $l:l $l l $l l 6 $x :l'Vo $:l $l l $l l 7 _x l:l% $:l $l l $l l
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