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Calculate the depreciation using the straight-line method

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Question - Sheridan Ltd. purchased a delivery truck on January 1, 2018, at a cost of $72,250. The truck is expected to have a residual value of $7,470 at the end of its 4-year useful life. Sheridan has a December 31 year end.

Required -

Calculate the depreciation using the straight-line method for each year of the truck's life.

Calculate the depreciation using the straight-line method in total over the truck's life.

Reference no: EM132522365

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