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Larkspur, Inc. acquires a delivery truck at a cost of $49,000 on January 1,2022. The...

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Accounting

Larkspur, Inc. acquires a delivery truck at a cost of $49,000 on January 1,2022. The truck is expected to have a salvage value of $2,700 at the end of its 5-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining-balance method.
Year 1
Year 2
Annual depreciation expense
$
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