CengageNOWv2 nlin X chegg Study | Guided Solut gagenow.com/lm/takeAssignment/tak

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CengageNOWv2 nlin X chegg Study | Guided Solut gagenow.com/lm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssignt; mentsessionlocator-assignment-takesinprogress Exerc eBook Video Straight-Line, Dedlining-Balance, and Sum-of-the.-Years' Digits Methods the deprecdation A light truck is purchased on January 1 at a cost of $39,260. It is expected to serve for eight years and h expense for the first and third years of the truck's life using the following methods. If required, r ave a salvage value of $5,820. Calculate Depreciation Expense Year 3 Year 1 1. Straight-line 2. Double-declining-balance 3. Sum-of-the-years' -digits

Explanation / Answer

Straight line: Year 1 4180 =(39260-5820)/8 Year 3 4180 =(39260-5820)/8 Double declining balance: Year 1 9815 =39260*25% Year 2 7361.25 =(39260-9815)*25% Year 3 5520.94 =(39260-9815-7361.25)*25% Sum of years' digits Year 1 7431.11 =(39260-5820)/36*8 Year 3 5573.33 =(39260-5820)/36*6

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