Kent Express owns a fleet of delivery vehicles. They were purchased for $120 000 and are expected to have a useful life of 8 years. Their residual value is expected to be $20 000. What is the depreciation expense recorded using the sum-of-digits depreciation method in years 1 and 2 (rounded to the nearest dollar)?

Question

Kent Express owns a fleet of delivery vehicles. They were purchased for $120 000 and are expected to have a useful life of 8 years. Their residual value is expected to be $20 000. What is the depreciation expense recorded using the sum-of-digits depreciation method in years 1 and 2 (rounded to the nearest dollar)?
Kent Express owns a fleet of delivery vehicles. They were purchased for $120 000 and are expected to have a useful life of 8 years. Their residual value is expected to be $20 000. What is the depreciation expense recorded using the sum-of-digits depreciation method in years 1 and 2 (rounded to the nearest dollar)?

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The Answer of Kent Express owns a fleet of delivery vehicles. They were purchased for $120 000 and are expected to have a useful life of 8 years. Their residual value is expected to be $20 000. What is the depreciation expense recorded using the sum-of-digits depreciation method in years 1 and 2 (rounded to the nearest dollar)?

Kent Express Owns a Fleet of Delivery Vehicles