STRAIGHT-LINE, DECLINING-BALANCE, AND SUM-OF-THE-YEARS-DIGITS METHODS A light truck is purchased on January 1 at a cost of $35,000. It is expected to serve for eight years and have a salvage value of $5,000. Calculate the depreciation expense for the first and third years of the trucks life using the following methods:

1. Straight-line

2. Double-declining-balance (round to two decimal places)

3. Sum-of-the-years-digits (round to two decimal places)