Or Inc.'s fiscal year ends on December 31. On January 1, 2016, Or Inc. purchased a truck at a cost of $62,000. The estimated useful life of the truck is 3 years. The residual value is estimated at $2,000. The company uses the straight-line depreciation method. 

What was the depreciation expense the company recorded in 2017?

Answer rating: 100% (QA)

Since Or Inc uses the straightline depreciation method the annual depreciation expense i... View the full answer