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The Long Haul Trucking Company buys a new delivery truck for $45,000 plus an additional $5,000 in sales tax. Long Haul plans to drive the
The Long Haul Trucking Company buys a new delivery truck for $45,000 plus an additional $5,000 in sales tax. Long Haul plans to drive the truck for five years, and then trade it in to buy a new truck. They expect to receive $10,000 as the trade-in value at the time of disposal. How much depreciation will Long Haul recognize each year of the truck's useful life? $7,000$8,000$9,000$12,000
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