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ain & Shine Co. purchased a truck for its business on January 2, 20×1

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June 7th, 2024

ain & Shine Co. purchased a truck for its business on January 2, 20×1. The cost of the truck was $35,000 with a salvage value of $5,000 and a useful life of 5 years. Using the Double-Declining Balance method of depreciation, the depreciation expense recorded on December 31, 20×1, would be:a.$12,000.b.$14,000.c.$0.d.$16,000.

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