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A New Truck Costing $60,000 with a Residual Value of $6,000

Question 68

Multiple Choice

A new truck costing $60,000 with a residual value of $6,000 has an estimated useful life of five years. Using the declining-balance method at twice the straight-line rate, the depreciation expense in year 2 is:


A) $24,000
B) $14,000
C) $14,400
D) $2,400
E) None of these

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