Question: Please answer all 3 mcq or none 20. A truck was purchased for $40,000 and it was estimated to have a $4,000 residual value. Using

Please answer all 3 mcq or none

value. Using the straight-line method, monthly depreciation expense of $600 was recorded.

20. A truck was purchased for $40,000 and it was estimated to have a $4,000 residual value. Using the straight-line method, monthly depreciation expense of $600 was recorded. Therefore, the annual depreciation rate expressed as a percentage is (a) 2% (b) 17%. (c) 18%. (d) 20%. (e) None of the above

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