Units-of-output depreciation OBJ. 2 A truck acquired at a cost of $69,000 has an estimated residual value of $12,000, has an estimated useful life of 300,000 miles, and was driven 77,000 miles during the year.

Determine

(a) the depreciable cost,

(b) the depreciation rate, and

(c) the units-of-output depreciation for the year.