Draper Company purchased a truck that cost $36,000. The company expected to drive the truck...
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Accounting
Draper Company purchased a truck that cost $36,000. The company expected to drive the truck 100,000 miles over its 5-year useful life, and the truck had an estimated salvage value of $2,000. If the truck is driven 36,000 miles in the current accounting period, what would be the amount of depreciation expense for the year?
| $12,240. | |
| $7,200. | |
| $6,800. | |
| $12,960. |
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