On January 1, 2014, a company purchased a delivery truck for $30,000. They estimated the useful life of the truck to be 6 years, and the salvage value to be $6,000. On July 1, 2019, they sold the truck for a loss of $600.
Assuming the company uses straight line depreciation, calculate the selling price of the truck.
A) $5,250
B) $5,850
C) $7,400
D) $1,650
Correct Answer:
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