Atruck with a cost of $82,000 has an estimated residual value of $16,000, has an estimated useful life of 12 years, and is depreciated by the straight-line method.
a. determine the amount of the annual depreciation. $
b. determine the book value at the end of the seventh year of use. $
c. assuming that at the start of the eighth year the remaining life is estimated to be six years and the residual value is estimated to be $12,000, determine the depreciation expense for each of the remaining six years. $