The Vermont Construction Company purchased a hauling truck on January 1 2022 at a cost of 34 000 The truck has useful life of

Question

The Vermont Construction Company purchased a hauling truck on January 1 2022 at a cost of 34 000 The truck has useful life of eight years with an estimated salvage value of 7 000 The straight line method is used for book purposes For tax purposes the truck would be depreciated with the MACRS method over its five year class life Determine the annual depreciation amount to be taken over the useful life of the hauling truck for both book and tax purposes Click the icon to view the MACRS depreciation schedules Compute the depreciation amounts for the hauling truck and fill in the table below Round to the nearest dollar SL Depreciation MACRS Depreciation n 1 3 4 GA 69 A 69 S SA

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