On March 31, 2016, Titan Trucking purchased a used Kenworth


On March 31, 2016, Titan Trucking purchased a used Kenworth truck at a cost of $52,000. Titan Trucking expects to drive the truck for 5 years and to have a residual value of $10,000. Compute Titan Trucking's depreciation expense on the truck for the year ended December 31, 2016, using the straight-line method?