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A new truck is purchased on January 1, 20X6. The truck cost $10,000, has a...

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Accounting

A new truck is purchased on January 1, 20X6. The truck cost $10,000, has a 5-year life, and a $2,000 residual value. Given a December 31 year-end, and use of the straight-line method, how much is the net book value at December 31, 20X7? Question 18 options: $10,000 $7,200. $6,000. $3,200. None of these

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