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Howe Chemicals Company acquires a delivery truck at a cost of $31,000 on January 1,...

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Accounting

Howe Chemicals Company acquires a delivery truck at a cost of $31,000 on January 1, 2014. The truck is expected to have a salvage value of $4,000 at the end of its 4-year useful life. Compute annual depreciation for the first and second years using the straight-line method. (Round answers to 0 decimal places, e.g. 125.)

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