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This is a review question for our exam. The teacher posted the answers, but not the steps. I am having problems with this problem: Question: The Vermont Construction Company purchased a hauling truck on January​ 1, 2009 at a cost of ​$35000 . The truck has a useful life of eight years with an estimated salvage value of ​$8000 . The​ straight-line method is used for book purposes. For tax​ purposes, the truck would be depreciated with the MACRS method over its​ five-year class life. Determine the annual depreciation amount to be taken over the useful life of the hauling truck for both book and tax purposes. n=6

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This is a review question for our exam. The teacher posted the answers, but not the steps. I am having problems

with this problem:

Question: The Vermont Construction Company purchased a hauling truck on January​ 1, 2009 at a cost of ​$35000 . The truck has a useful life of eight years with an estimated salvage value of ​$8000 . The​ straight-line method is used for book purposes. For tax​ purposes, the truck would be depreciated with the MACRS method over its​ five-year class life. Determine the annual depreciation amount to be taken over the useful life of the hauling truck for both book and tax purposes. n=6

 
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