Bruce Company purchased a tractor for $50,000 on January 2, 2020 The asset has an expected salvage value of $10,000 at the end of its five year useful life What depreciation method is used if depreciation expense is $8,000 in 2021 a Straight line b Sum of years digits c Double declining balance d C...

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Bruce Company purchased a tractor for $50,000 on January 2, 2020. The asset has an expected salvage

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Bruce Company purchased a tractor for $50,000 on January 2, 2020. The asset has an expected salvage value of $10,000 at the end of its five-year useful life. What depreciation method is used if depreciation expense is $8,000 in 2021?
a. Straight-line.
b. Sum of years’ digits.
c. Double-declining balance.
d. Composite.