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A truck was purchased for $120,000 and it was estimated to have a $24,000 salvage...

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Accounting

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A truck was purchased for $120,000 and it was estimated to have a $24,000 salvage value at the end of its useful life. Monthly depreciation expense of $4,800 was recorded using the straight-line method. The annual depreciation Tate is a. 20%. b. 2% c. 8% d. 5%

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