On March 31, 2018, Titan Trucking purchased a used Kenworth truck at a cost of $52,000. Titan
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On March 31, 2018, Titan Trucking purchased a used Kenworth truck at a cost of $52,000. Titan Trucking expects to drive the truck for five years and to have a residual value of $10,000. Compute Titan Trucking’s depreciation expense on the truck for year 1 using the straight-line method.
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