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What is the truck carrying value at December

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Question - A company purchased a truck at the beginning of 2015 at a cost of £100,000. The truck had an estimated life of 5 years, an estimated residual value of £20,000, and will be depreciated using the straight-line method. On January 1, 2017, the company made major repairs of £30,000 to the truck that extended the life 3 years. Thus, starting with 2018, the truck has a remaining life of 5 years and a new salvage value of £8,000. What is the truck's carrying value at December 31, 2017?

Reference no: EM133055555

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