Question: Computing Depreciation A delivery van costing $44,400 is expected to have a $3,480 salvage value at the end of its useful life of five years.

Computing Depreciation A delivery van costing $44,400 is expected to have a $3,480 salvage value at the end of its useful life of five years. Assume that the truck was purchased on January 1. Compute the depreciation expense for the first two calendar years under the straightline depreciation method.

Depreciation in Year 1: $ Depreciation in Year 2: $

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