ASMLAR SCREEN PRINTER VERSION BACK NET Brief Exercise 9-13 Your answer is incorrect. Try again Gordon Chemicals Company acquires a delivery truck at a cost of $37,000 on January 1, 2017. The truck is expected to have a salvage value of 55,000 at the end of its 4-year useful life. Assuming the declining-balance depreciation rate is double the straight-line rate, compute annual depreciation for the first and second years under the declining balance method. First Year Second Year Annual depreciation under declining balance method 8,000 8.000