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Calculate depreciation expense

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Question

Whispering Ltd. purchased a new delivery truck on January 1, 2023. The truck cost $32,720 and was estimated to have a residual value of $2,000. It was estimated that the truck would be driven 512,000 kilometres for the company over its useful life of five years. During 2023, the truck was driven 97,000 kilometres, and 128,700 kilometres in 2024.

Calculate depreciation expense for 2023 and 2024.

Reference no: EM133306656

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