On October 1,2014,Fisherman Company purchased a light truck,at a cost of $62,000.The truck is expected to last six years and have a residual value of $5,200.Fisherman Company uses the calendar year as their fiscal year,and the nearest whole month method for depreciation.
(a)What is the depreciation expense for 2014,assuming the straight-line method is used?
(b)What is the depreciation expense for 2014 and 2015,assuming the double-declining-balance method is used (round double declining rate to 4 decimals)?

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The Answer of On October 1,2014,Fisherman Company purchased a light truck,at a cost of $62,000.The truck is expected to last six years and have a residual value of $5,200.Fisherman Company uses the calendar year as their fiscal year,and the nearest whole month method for depreciation.
(a)What is the depreciation expense for 2014,assuming the straight-line method is used?
(b)What is the depreciation expense for 2014 and 2015,assuming the double-declining-balance method is used (round double declining rate to 4 decimals)?

On October 1,2014,Fisherman Company Purchased a Light Truck,at a Cost