On January 1, 2018 (Year 1), Champre Company purchased a delivery truck for $30,000. The...
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On January 1, 2018 (Year 1), Champre Company purchased a delivery truck for $30,000. The truck has an estimated salvage value of $2,500 and a useful life of 5 years. On January 1,2022 , the beginning balance in accumulated depreciation was $26,112. Compute depreciation expense for the year ended December 31, 2022 (Year 5), assuming that Champre Company uses the double-decliningbalance method
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On January 1, 2018 (Year 1), Champre Company purchased a delivery truck for $30,000. The truck has an estimated salvage value of $2,500 and a useful life of 5 years. On January 1,2022 , the beginning balance in accumulated depreciation was $26,112. Compute depreciation expense for the year ended December 31, 2022 (Year 5), assuming that Champre Company uses the double-decliningbalance method 