Question: Question: Straight-Line, Declining-Balance, and Sum-of-the-Years'-Digits Methods A light truck is purchased on January 1 at a cost of $30,450. It is expected to serve for

Question: Straight-Line, Declining-Balance, and Sum-of-the-Years'-Digits Methods A light truck is purchased on January 1 at a cost of $30,450. It is expected to serve for eight years and have a salvage value of s4770. Calculate the depreciation expense for the first and third years of the truck's life using the following methods. If required, round your answers to the nearest cent. Depreciation Expense Year 1 Year 3 1. Straight-line $$ 2. Double-declining-balance $ $ 3. Sum-of-the-years'-digits $$

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