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Answer the ten (10) questions given the following data set: ABC purchases...

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Accounting

Answer the ten (10) questions given the following data set:
ABC purchases a new delivery truck on January 1,2022. The cost of the truck is $40,000. The truck is expected to last for five (5) years and at that time have a salvage (residual) value of $5,000.
After two (2) years, ABC believes it will now have the delivery truck for a total of 8 years and after that time, the truck will have a $2,000 salvage (residual) value.
After 6 years, ABC sells the truck for $6,000.Question 2
What is the impact on net income in Year 1 as a result of the events described?
If the amount is an increase to net income, enter a positive number. If the amount is a decrease to
net income, enter a negative number. If there is no impact, enter 0(zero). Do not enter any dollar
signs or commas. Use the negative sign for any negatives numbers.
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