Straight-Line, Declining-Balance, and Sum-of-the-Years'-Digits Methods A light truck is purchased on January 1 at a cost of...

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Straight-Line, Declining-Balance, and Sum-of-the-Years'-DigitsMethods
A light truck is purchased on January 1 at a cost of $38,730. Itis expected to serve for eight years and have a salvage value of$5,690. Calculate the depreciation expense for the first and thirdyears 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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Depreciation Expense Year 1 Year 3 1 Straightline 4130 4130 2 Doubledecliningbalance 968250 544641 3 Sumoftheyearsdigits 734222 550667 Working Straight line Method A Cost 3873000 B Residual Value 569000 CA B Depreciable base 3304000 D Life in See Answer

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	Depreciation Expense
	Year 1	Year 3
1. Straight-line	$	$
2. Double-declining-balance	$	$
3. Sum-of-the-years'-digits	$	$