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What is annual depreciation expense that smith goods record

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Question - Smith Goods purchased a truck on 1/1/2019 for its operations. The truck will be depreciated on its balance sheet on an annual basis. The purchase price of the truck was $30,000, the useful life is 6 years and the truck's salvage value is expected to be $12,000. What is the annual depreciation expense that Smith Goods will record for the truck on 12/31/2019?

a. $12,000

b. $3,000

c. $1,500

d. $250

Reference no: EM132623452

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