Your Company purchased a truck for $95,000 on January 2 of year one. The truck...
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Accounting
Your Company purchased a truck for $95,000 on January 2 of year one. The truck was estimated to have a $3,000 salvage value and a 4 year life. The truck was depreciated using the straight-line method. At the beginning of the 4th year, the company spent $30,000 on a major renovation that extended the useful life by another four years. The salvage at the end of its useful life would be $4,500. Determine the depreciation expense for the truck for the fourth year. ENTER YOUR ANSWER WITHOUT DOLLAR SIGNS OR OTHER DISCRIPTIONS.
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