Hubbard Company Purchased a Truck on January 1,2018,at a Cost

Question 118

Hubbard Company purchased a truck on January 1,2018,at a cost of $34,000.The company estimated that the truck would have a useful life of 4 years and a residual value of $4,000. A.Calculate depreciation expense under straight line and double declining balance for 2018-2021. B.Which of the two methods would result in lower net income in 2018 and 2021?