Consider the following facts: Company A purchased a truck for $120,000 and it was estimated...
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Accounting
Consider the following facts: Company A purchased a truck for $120,000 and it was estimated to have a $24,000 salvage value at the end of its useful life. Monthly depreciation expense of $2,000 was recorded using the straight-line method. The annual depreciation rate is
a. 2%
b. None of these answers are correct
c. 25%
d. 20%
e.8%
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