Multiple Choice
A truck was purchased for $40,000 and it was estimated to have a $4,000 residual value. Using the straight-line method, monthly depreciation expense of $600 was recorded. Therefore, the annual depreciation rate as a percent is
A) 2%.
B) 17%.
C) 18%.
D) 20%.
Correct Answer:
Verified
Correct Answer:
Verified
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