Multiple Choice
A truck was purchased for $15,000, and it was estimated to have a $3,000 residual value at the end of its useful life. Monthly depreciation expense of $250 was recorded using the straight-line method. The annual depreciation rate is
A) 20%.
B) 2%.
C) 8%.
D) 25%.
Correct Answer:
Verified
Correct Answer:
Verified
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