Question - STRAIGHT-LINE, DECLINING-BALANCE, AND SUM-OF-THE-YEARS'-DIGITS METHODS A light truck is purchased on January 1 at a cost of $35,000. It is expected to serve for eight years and have a salvage value of $5,000. Calculate the depreciation expense for the first and third years of the truck's life using the following methods:
1. Straight-line
2. Double-declining-balance (round to two decimal places)
3. Sum-of-the-years'-digits (round to two decimal places)