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Determine depreciation of the first year of the trucks life

Question - ABC inc. purchased a truck for $35,000. The truck is expected to be driven 15,000 miles per year over a 5 year period and then sold for approximately $5,000. Determine depreciation of the first year of the truck's life by both straight line and unit of output methods if the truck is actually driven 16,000 miles.

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Accounting Basics: Determine depreciation of the first year of the trucks life

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