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Compute annual depreciation for the first and second years

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Reference no: EM133157431

Question - Pharoah Chemicals Company acquires a delivery truck at a cost of $30,000 on January 1, 2022. The truck is expected to have a salvage value of $3,000 at the end of its 3-year useful life.

Required - Compute annual depreciation for the first and second years using the straight-line method.

Reference no: EM133157431

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