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    Depreciation of new truck

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    BE11-1 Fernandez Corporation purchased a truck at the beginning of 2010 for $50,000. The truck is estimated to have a salvage value of $2,000 and a useful life of 160,000 miles. It was driven 23,000 miles in 2010 and 31,000 miles in 2011, compute depreciation expense for 2010 and 2011.

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    Solution Summary

    The solution explains how to calculate the depreciation expense