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Calculate the depreciation for each year of the truck life

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Reference no: EM131744035

Question - Crane Ltd. purchased a delivery truck on January 1, 2018, at a cost of $83,920. The truck is expected to have a residual value of $8,070 at the end of its 4-year useful life. Crane has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate.

Calculate the depreciation for each year of the truck's life.

Reference no: EM131744035

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