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Your answer is incorrect Crane Ltd. purchased a delivery truck on May 1, 2021. at...

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Accounting

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Your answer is incorrect Crane Ltd. purchased a delivery truck on May 1, 2021. at a cost of $78,120. The truck is expected to have a residual value of $8,640 at the end of its 4-year useful life. Crane has a December 31 year end.Crane records depreciation to the nearest month Calculate the depreciation expense using the straight-line method for 2021 and 2022. (Round answers to decimal places, eg 5275) Depreciation expense 2021 $ 13020 2022 VA $ 74865

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