On January 1, 2019 Patrick, Mikiala, Dominique and Lima invested the following in exchange for common shares of Saturday Sun Corporation; $250,000 in cash, a fabrication machine worth $175,000 and 3 delivery trucks whose carrying values are $63,000 each. Patrick, Mikiala, Dominique and Lima received 6,250, $1.50 par value common shares each from Saturday Sun Corporation for their investments. The expected life of the fabrication machine is 15 years and the company is anticipating being able to resell the equipment at the end of its useful life for $25,000. The delivery trucks are expected to last 7 years with no resale value.
Saturday Sun Corp employs the double declining balance method of deprecation to depreciate there newly acquired trucks. (this is the question needed answered)