(Answered) Question - a new truck costing 50000 with a residual value

Accounting

Question - A new truck costing $50,000 with a residual value of $4,000 has an estimated useful life of 5 years. By using the declining-balance method at twice the straight-line rate, the depreciation expense in year 2 is:

$20,000

$12,000

$18,000

$7,200

None of these

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