Sandhill Ltd. purchased a delivery truck on January 1, 2021, at a cost of $80,640. The truck is expected to have a residual value of $7,380 at the end of its 4-year useful life. Sandhill has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate Calculate the depreciation for each year of the truck’s life. (Round answers to 0 decimal places, e.g. 5,275.)     Depreciation expense   2021   $enter a dollar amount    2022   $enter a dollar amount    2023   $enter a dollar amount    2024   $enter a dollar amount

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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Sandhill Ltd. purchased a delivery truck on January 1, 2021, at a cost of $80,640. The truck is expected to have a residual value of $7,380 at the end of its 4-year useful life. Sandhill has a December 31 year end. Use the diminishing-balance method and assume the depreciation rate is equal to double the straight-line rate

Calculate the depreciation for each year of the truck’s life. (Round answers to 0 decimal places, e.g. 5,275.)

   
Depreciation expense
 
2021
  $enter a dollar amount   
2022
  $enter a dollar amount   
2023
  $enter a dollar amount   
2024
  $enter a dollar amount 
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