A delivery truck was acquired by Navarro Inc. for $40,000 on January 1, 2011. The truck was estimated to have a 3-year life and a trade-in value at the end of that time of $10,000. The following depreciation methods are being considered:

(a) Depreciation is to be calculated by the straight-line method.

(b) Depreciation is to be calculated by the sum-of-the-years’-digits method.

(c) Depreciation is to be calculated by the double-declining-balance method.

Instructions:

Prepare tables reporting periodic depreciation and asset book value over a 3-year period for each method listed.