Need some help with these two questhions, Can i get ancwers and solutions?? than

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Need some help with these two questhions, Can i get ancwers and solutions?? thanks so much

D PortalGuard Single Sign- x Final Review Extra Credit XyYj WileyPLUS x (104) YouTube . CSecure https://edugen.wileyplus.com/ed Kimmel, Financial Accounting, 8e CALCULATOR PRINTER VERSION BACK NEXT ASSIGNMENT Question 1 Gordon Chemicals Company acquires a delivery truck at a cost of $37,000 on January 1, 2017. The truck is expected to have a salvage value of $2,000 at the end of its S-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. First Year Second Year Annual depreciation under declining-balance method Question Attempts: 0 of 3 used SAVE FOR LATER SUBMIT ANSWER Question ??uestion is Question 1 S:16 PM O Type here to search 4/27/20183

Explanation / Answer

Q1) Calculate double decline balance dep :

Double decline balance dep rate = (100/5)*2 = 40%

First year dep = 37000*40% = 14800

Second year dep = 37000*60%*40% = 8880

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