Wexford Co purchased a new delivery truck at the beginning of 2016 . The truck has a cost of $37,000, an estimated life of 5 years, and an estimated residual value of $7,000 . A full year's depreciation expense is to be recorded in 2016 . The truck was driven 20,000 miles during 2016 and 24,000 miles during 2017 . The number of expected miles over five years is 100,000. Refer to information for
Wexford Co What is the amount by which double-declining-balance depreciation exceeds straight-line depreciation over the 5-year life of the truck?
a. $ -0-
b. $ 7,000
c. $37,000
d. $ 6,000
a
Business
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