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On October 1, X-it Company bought a new delivery truck for $30,000. X-it plans to use the truck for 4 years, after which it will be sold for $6,000. What is depreciation expense for the year ended December 31 that year using double-declining-balance

Respuesta :

Answer:

$3,750

Explanation:

The truck was only used for 3 months of the year. Therefore, the 3 months of depreciation equals:

$3,750 = ($30,000 x 2/4 x 3/12)

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