Question: Fernandez Corporation purchased a truck at the beginning of 2010
Fernandez Corporation purchased a truck at the beginning of 2010 for $50,000. The truck is estimated to have a salvage value of $2,000 and a useful life of 160,000 miles. It was driven 23,000 miles in 2010 and 31,000 miles in 2011. Compute depreciation expense for 2010 and 2011.
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