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Compute annual depreciation for the first and second years

Question - Apex Chemicals Company acquires a delivery truck at a cost of $39,296 on January 1, 2010. The truck is expected to have a salvage value of $4,200 at the end of its 5-year useful life. Compute annual depreciation for the first and second years using the straight-line method.

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Accounting Basics: Compute annual depreciation for the first and second years

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