A truck with an estimated life of four years was acquired on June 30, Year 1, for
$13,000. The estimated residual value of the truck is $1,000, and the service life is
estimated at 100,000 miles. Compute depreciation for Year 1 using the
following methods (where appropriate, round depreciation to the nearest month).
Refer to the above data.
Question:
What is the Fixed-percentage of declining balance(twice the straight line rate) depreciation for Year 1 ?
Select one:
a.
$3,250
b.
$4,875
c.
$4,063
d.
$3,350