A company purchased a truck for $35,000 on January 1, Year 1. The truck is estimated to

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A company purchased a truck for $35,000 on January 1, Year 1. The truck is estimated to have a useful life of four years and a salvage value of $1,000. Assuming that the company uses straight line depreciation, what is depreciation expense for the year ended December 31, Year 2?

a. $8,750

b. $17,500

c. $8,500

d. $17,000

e. $25,500

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