A garbage disposal company purchased a refuse truck on Feb. 2, 2113, at a cost of $72,000' The truck has a useful life of 8 years with an estimated salvage vale of $17,000. The straight line method is used for book purposes. For tax purposes, the truck would be depreciated be MACRS over its five-year class life. Determine the annual depreciation amount to be taken over the useful life of the truck for both book and tax purposes.
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