|1. A company purchased a truck on October 1 of the current year at a cost of $40,000. The truck is expected to last six years and has a salvage value of $2,200.|
|The company's annual accounting period ends on December 31.|
|a. What is the depreciation expense for the current year, assuming the straight-line method is used?|
b. What is the depreciation expense for the current year, assuming the double-decliningbalance method is used?
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