Question: Depreciation information for Buckingham Ltd. is given in BE9-4. Using the diminishing-balance method and assuming the depreciation rate is equal to one time the straight-line

Depreciation information for Buckingham Ltd. is given in BE9-4. Using the diminishing-balance method and assuming the depreciation rate is equal to one time the straight-line rate, calculate the depreciation

(a) For each year of the truck's life,

(b) In total over the truck's life.

In BE9-4

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.

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