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This company purchased a truck at a cost of $20,000. The truck has an estimated...

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Accounting

This company purchased a truck at a cost of $20,000. The truck has an estimated residual value of $2,000 and an estimated life of 5 years, or 100,000 hours of operation. The truck was purchased on January 1, 2019, and was used 27,000 hours in 2019 and 26,000 hours in 2020. If the company uses the double-declining-balance depreciation method, what amount is the depreciation expense for 2020?

$8,000

$4,800

$4,320

$3,600

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