Fernandez Corporation purchased a truck at the beginning of 2019 for $50,000. The truck is estimated

QUESTION:

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Fernandez Corporation purchased a truck at the beginning of 2019 for $50,000. The truck is estimated to have a residual value of $2,000 and a useful life of 160,000 miles. It was driven 23,000 miles in 2019 and 31,000 miles in 2020. Compute depreciation expense for 2019 and 2020.

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