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Apex chemicals company acquires a delivery truck at a cost

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Apex Chemicals Company acquires a delivery truck at a cost of $29,564 on January 1, 2010. The truck is expected to have a salvage value of $3,248 at the end of its 5-year useful life. Compute annual depreciation for the first and second years using the straight-line method.

First year depreciation

Second year depreciation

Reference no: EM13596812

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