Hardwick Company purchased a truck that cost $53,000. The company expected to drive the truck 200,000 miles over its 5-year useful life, and the truck had an estimated salvage value of $3,000. If the truck is driven 30,000 miles in the current accounting period, what would be the amount of depreciation expense for the year?
A. $12,000
B. $7,500
C. $10,000
D. $10,600
Answer: B
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