Lena Horn bought a?Toyota Tundra on January 1, for $30,000 with an estimated life of 5 years. The residual value of the truck is $5000. Assume a straight line method of depreciation.
A. What will be the book value?of the truck at the end of four years?
B. If the Tundra was bought the first year on April 12, how much depreciation would be taken the first year? LU 17-1(2)
Please include all steps so I can learn how to do this for my exam. Thank you.
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