Straight-Line, Declining-Balance, and Sum-of-the-Years'-Digits Methods

A light truck is purchased on January 1 at a cost of $39,600. It is expected to serve for eight years and have a salvage value of $4,240. Calculate the depreciation expense for the first and third years of the trucks life using the following methods. If required, round your answers to the nearest cent.

	Depreciation Expense
	Year 1	Year 3
1. Straight-line
2. Double-declining-balance
3. Sum-of-the-years'-digits