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Compute annual depreciation for the first and second years

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Question - Sunland Company acquires a delivery truck at a cost of $53,000 on January 1, 2022. The truck is expected to have a salvage value of $3,100 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.

Reference no: EM133059965

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