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What is the annual depreciation expense for the lift truck

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Question - On Jan. 1, 2012, ABC Corproation placed into service a lift truck that had a capitalized acquisiton cost of 45,000, estimated useful life of 16 years, and estimated salvage value of 5000. ABC depreciated the truck on a straight - line basis through December 31, 2018 then sold the used ft truck for 23200.

Required -

a. What is the annual depreciation expense for the lift truck?

b. What was the lift trucks book value after recognizing depreciation on December 31, 2018?

c. What is the gain or loss (if any) on selling the lift truck?

Reference no: EM133031694

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