(Solution Download) A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of 5 years...

A truck costs $16,000 with a residual value of $1,000. It has an estimated useful life of 5 years. If the truck was bought on July 3, what would be the book value at end of year 1? Answer $16,000 $12,500 $14,500 $1,500 None of these