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Problem:

Basden Carpet Cleaning recently purchased a small Nissan truck to use in transporting their cleaning materials to and from client homes. The truck cost $26,980 and Basden expects to make it last for six years. At the end of the six years Ms. Basden believes that the truck will only be worth $500.

Required:

Question: If Ms. Basden prepares her records yearly and uses the straight-line depreciation method how much would she record in depreciation expense in the second year?

$374.72
$4,413.33
$340.00
$8,826.66

Note: Be sure to show how you arrived at your answer.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M91165641

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