A company purchased a truck on October 1 of the current year at a cost of $40,000. The truck is expected to last six years and has a salvage value of $2,200. The company's annual accounting period ends on December 31.
A. What is the depreciation expense for the current year, assuming the straight-line method is used?
B. What is the depreciation expense for the current year, assuming the double-declining-balance method is used?