Tiger Logistics acquired a new truck for $75,000 in 2008. At the end of 2011, accumulated depreciation

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Tiger Logistics acquired a new truck for $75,000 in 2008. At the end of 2011, accumulated depreciation on the truck was $25,000. On January 1, 2012, Tiger paid $2,000 for routine service on the truck and $8,000 to overhaul the engine. The engine work is anticipated to extend the useful life of the truck by 5 years.
Required
Calculate the net book value of Tiger's truck immediately after the service and overhaul.
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Financial ACCT2

ISBN: 978-1111530761

2nd edition

Authors: Norman H. Godwin, C. Wayne Alderman

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