Calculate annual depreciation for the first and second years

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Reference no: EM13128311

Apex Chemicals Company acquires a delivery truck at a cost of $31,000 on January 1, 2012. The truck is expected to have a salvage value of $4,000 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: EM13128311

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