Coronado Industries purchased a truck at the beginning of 2020 for $110100. The truck is estimated to have a salvage value of $4000 and a useful life of 118000 miles. It was driven 22000 miles in 2020 and 30000 miles in 2021. What is the depreciation expense for 2020?

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Market Efficiency

Market efficiency refers to the market's ability to provide investors with all available information about investment options for buying and selling securities. Market efficiency reflects the true value of securities without undervaluing or overvaluing them. When the quality and quantity of information increase, the market becomes more efficient, allowing it to reduce arbitrage and obtain higher market returns from investment. In a well-functioning market, everyone receives all information completely and immediately at no cost. It opens up a plethora of opportunities for investors to access various investment options.