Question - Depreciation calculation methods Kleener Co. acquired a new delivery truck at the beginning of its current fiscal year. The truck cost $26,000 and has an estimated useful life of four years and an estimated salvage value of 54.000.
Required:
a. Calculate depreciation expense for each year of the truck's life using I. Straight-line depreciation.
2. a. Double-declining-balance depreciation.
b. Calculate the truck's net book value at the end of its third year of use under each depreciation method.