Buckingham Ltd. purchases a delivery truck on January 1, 2015, at a cost of $86,000. The truck

Question:

Buckingham Ltd. purchases a delivery truck on January 1, 2015, at a cost of $86,000. The truck is expected to have a residual value of $6,000 at the end of its four-year useful life. Buckingham has a December 31 year end. Calculate the depreciation using the straight-line method
(a) For each year of the truck's life,
(b) In total over the truck's life.