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Compute annual depreciation for the first and second years

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Question

Windsor, Inc. acquires a delivery truck at a cost of $56,000. The truck is expected to have a salvage value of $6,000 at the end of its 5-year useful life.

Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.

                                       year 1       year 2

Annual depreciation expense    $               $

Reference no: EM132317022

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