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A light truck is purchased on January 1 at a cost of $27,000. It is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods. If required, round your answers to two decimal places. Depreciation Expense Year 1 Year 3 1. Straight-line $ $ 2. Double-declining-balance $ $ 3. Sum-of-the-years'-digits $ $ .it is expected to serve for eight years and have a salvage value of $3,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods. If required, round your answers to two decimal places.
Depreciation Expense Year 1 Year 3 1. Straight-line $ $ 2. Double-declining-balance $ $ 3. Sum-of-the-years'-digits $ $
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