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Calculate the annual depreciation rate

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Question - A truck was purchased for $300,000 and it was estimated to have a $60,000 residual value at the end of its useful life. Monthly depreciation expense of $10,000 was recorded using the straight-line method. Calculate the annual depreciation rate?

a. 20%.

b. 2%

c. 8%.

d. 25%.

Reference no: EM132567011

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