The Weiss Company purchased a truck for $95,000 on January 2. The truck was estimated to have a $3,000 residual value and a 4 year life. The truck was depreciated using the straight-line method. During the third year, it was obvious that the truck's total useful life would be 6 years rather than 4, and the residual value at the end of the 6th year would be $1,500. Determine the depreciation expense for the truck for the 6 years of its life.

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The Answer of The Weiss Company purchased a truck for $95,000 on January 2. The truck was estimated to have a $3,000 residual value and a 4 year life. The truck was depreciated using the straight-line method. During the third year, it was obvious that the truck's total useful life would be 6 years rather than 4, and the residual value at the end of the 6th year would be $1,500. Determine the depreciation expense for the truck for the 6 years of its life.

The Weiss Company Purchased a Truck for $95,000 on January