On January 1, 2013 Midwest Co. purchased a truck that cost $44,000. The truck had an expected useful life of 10 years and a $4,000 salvage value. The amount of depreciation expense recognized in 2014 assuming that Midwest uses the double declining-balance method is: $6,400. $7,040. $4,400. $8,800.

On January 1, 2013 Midwest Co. purchased a truck that cost $44,000. The truck had an expected useful life of 10 years and a $4,000 salvage value. The amount of depreciation expense recognized in 2014 assuming that Midwest uses the double declining-balance method is:

• $6,400.
• $7,040.
• $4,400.
• $8,800.

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