Question

9.5 Finx, Inc., purchased a truck for $40,000. The truck is expected to be driven 15,000 mies per year over a five-year period and then soid or approximately $5,009. Determine depreciation for the first year of the truck's useful life by the straight-line and units-of-output methods if the truck actually driven 16,000 miles. (Round depreciatior per mile the units-of-output method to the nearest whole cent.) hits-of-​

Answer 1

Answer:

$</p><p>Straight-line depreciation • Cost of truck = 40,000 • Useful life = 5 years • Residual value = 5,000 SLM depreciation = (Cost - Residual Value) / 5...  </p><p></p><p>$