The Western Salvage Service bought three trucks. The following table shows the cost, estimated life,...
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Accounting
The Western Salvage Service bought three trucks. The following table shows the cost, estimated life, and resale estimate for each truck. Compute the amount of depreciation for each vehicle for the first 2 years using the straight-line method. Round your intermediate calculations and final answers to the nearest dollar.
Original Cost
Estimated Life
Resale Estimate
Depreciation for First Two Years
a. $31,000
6 yr
$4,000
$
b. $43,000
8 yr
2,000
$
c. $60,000
7 yr
11,000
$
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