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Calculate the depreciation in total over the trucks life

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Question - Oriole Ltd. purchased a delivery truck on January 1, 2018, at a cost of $82,400. The truck is expected to have a residual value of $7,520 at the end of its 4-year useful life. Oriole has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate.

Required -

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

2. Calculate the depreciation in total over the truck's life.

Reference no: EM132522368

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