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What is the annual depreciation under the declining balance

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Gordon Chemicals Company acquires a delivery truck at a cost of $31,000 on January 1, 2017. The truck is expected to have a salvage value of $4,000 at the end of its 4-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.

What is the Annual depreciation under the declining balance method for the First Year?

What is the Annual depreciation under the declining balance method for the Second Year?

Reference no: EM131797849

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