On January 1, Year 1, Friedman Company purchased a truck that cost $48,000. The truck had an expected useful life of 100,000 miles over 8 years and an $8,000 salvage value. During Year 2, Friedman drove the truck 18,500 miles. Friedman uses the units-of-production method. What is depreciation expense in Year 2?
A. $6,000
B. $5,000
C. $7,400
D. $8,880
Answer: C
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