Multiple Choice
On January 1, 2013, Fritz Company purchased a truck that cost $38,000. The truck had an expected useful life of 8 years and an $8,000 salvage value. The book value of the truck at the end of 2013, assuming that Fritz uses the double declining balance method, is:
A) $20,500.
B) $28,500.
C) $30,500.
D) $22,500.
Correct Answer:
Verified
Correct Answer:
Verified
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