Blossom Ltd. purchased a delivery truck on January 1, 2021, at a cost of $...
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Accounting
Blossom Ltd. purchased a delivery truck on January 1, 2021, at a cost of $ 74,320. The truck is expected to have a residual value of $ 8,010 at the end of its 4-year useful life. Blossom has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate.
a) Calculate the depreciation for each year of the trucks life. (Round answers to 0 decimal places, e.g. 5,275.)
Depreciation expense
2021
$ enter a dollar amount
2022
$ enter a dollar amount
2023
$ enter a dollar amount
2024
$ enter a dollar amount
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