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TB MC Qu. 08-53 On January 1, Year 1 Missouri... On January 1, Year 1 Missouri Co. purchased a truck that cost $35,000. The truck

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TB MC Qu. 08-53 On January 1, Year 1 Missouri... On January 1, Year 1 Missouri Co. purchased a truck that cost $35,000. The truck had an expected useful life of 10 years and a $3,000 salvage value. Missouri uses the double declining-balance method. What is the amount of depreciation expense recognized in Year 2? Multiple Choice $5,120 $5,600 O O O $3,500 $7,000

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