Question: Current Attempt in Progress Your answer is incorrect. Blossom Ltd. purchased a delivery truck on May 1, 2021, at a cost of $74,400. The truck

Current Attempt in Progress Your answer is incorrect. Blossom Ltd. purchased a delivery truck on May 1, 2021, at a cost of $74,400. The truck is expected to have a residual value of $7,890 at the end of its 4-year useful life. Blossom has a December 31 year end. Calculate the depreciation expense using the diminishing- balance method for 2021 and 2022. Assume the depreciation rate is equal to one time the straight-line rate. (Round answers to 0 decimal places, e.g. 5,275.) 2021 $ LA 2022 $ Depreciation expense

Blossom Ltd, purchased a delivery truck on May 1, 2021, at a cost of $74,400. The truck is expected to have a residual value of $7,890 at the end of its 4 -year useful life. Blossom has a December 31 year end. Calculate the depreciation expense using the diminishing. balance method for 2021 and 2022. Assume the depreciation rate is equal to one time the straight-line rate. (Round answers to 0 decimal places, e.s.5,275.)

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