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Calculate the depreciation expense

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Question - Carla Vista Ltd. purchased a delivery truck on May 1, 2021, at a cost of $74,760. The truck is expected to have a residual value of $8,720 at the end of its 4-year useful life. Carla Vista has a December 31 year end. Calculate the depreciation expense using the diminishing-balance method for 2021 and 2022. Assume the depreciation rate is equal to one time the straight-line rate.

Reference no: EM133065992

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