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Stuck Stucky purchased a new truck on July 1, 2005 at a cost of $20,000. The truck had a life of 7 years and salvage of $6,000.00. Using the straight-line method, record the following:-
1. The purchase on July 1, 2005
2. The Depreciation for 2005
3. What is the book value of the truck at December 31, 2005, and December 31, 2006?

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