A truck was purchased for $188000 and it was estimated to have a $32000 salvage value at the end of its useful life. Monthly depreciation expense of $2600 was recorded using the straight-line method. The

Sqram asked Jun 12, 2023

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Sqram asked Jun 12, 2023

by Sqram

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17 votes

Answer: 20%

Step-by-step explanation: Annual depreciation = $2,600 * 12 = $31,200

Annual depreciation rate = Annual depreciation /Depreciable costs

= $31,200 / ($188,000 - $32,000)

= 20%

Sina Sohi answered Jun 17, 2023

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