Posted: September 23rd, 2016

Leland Industries purchased a truck for $20,000 that was estimated to have a 5-year life and $2,000 salvage value

Leland Industries purchased a truck for $20,000 that was estimated to have a 5-year life and $2,000 salvage value. How much of the truck’s cost will be expensed over its life?

A. $4,000
B. $20,000
C. $3,600
D. $18,000